MacKay Shields UK LLP (CLONE) - Central Bank of Ireland Issues Warning on Unauthorised Firm

What Changed

• - The Central Bank of Ireland has formally designated “MacKay Shields UK LLP (CLONE)” as an unauthorised investment firm / investment business firm / alternative investment fund manager and published a warning notice identifying its contact details (
• The notice clarifies that MacKay Shields UK LLP (CLONE) is not authorised to provide investment services, investment business services or AIFM services in Ireland and therefore any financial services activity it undertakes in the State would constitu
• The Central Bank highlights that the clone firm has been offering fake investments via the applications NYLI and NYLIPLUS, emphasising a specific scam vector via investment apps rather than traditional web domains.
• The warning confirms that the clone firm has cloned the name and registration details of the legitimate MacKay Shields UK LLP (Central Bank register C121665), reinforcing the pattern of identity‑cloning scams previously observed in other cases such a
• The firm’s name is being published under section 53 of the Central Bank (Supervision and Enforcement) Act 2013, signalling that the Central Bank considers the activity sufficiently serious to warrant public naming and warning.
• The Central Bank reiterates the availability of its unauthorised firms reporting mechanisms (telephone line and online reporting) and directs consumers and firms to the financial scams information section, underlining expectations that firms monitor

Suggested Considerations

• Review and update client‑facing communications, website content and FAQs to warn clients about clone‑firm risks, specifically referencing messaging‑app contact details and investment apps such as NYLI and NYLIPLUS that are not associated with authorised firms.
• Implement or enhance procedures within AML / financial crime and fraud‑risk frameworks to identify and escalate interactions involving the listed email address (support@mackay-shields.email) and the specified WhatsApp and telephone numbers, treating them as indicators of potential scam activity.
• Instruct front‑office, client‑relationship and call‑centre staff to verify authorisation status using the Central Bank’s public registers before acknowledging or forwarding any investment proposals that reference “MacKay Shields UK LLP” or similar branding.
• Notify internal legal and regulatory affairs teams, and where relevant the legitimate MacKay Shields UK LLP, of the clone warning to coordinate responses, client communications and potential reporting of any attempted impersonation or fraudulent use of the authorised firm’s details.
• Review existing third‑party distribution and referral arrangements to ensure counterparties are not using or promoting NYLI, NYLIPLUS or similar unregulated applications, and add contractual provisions requiring immediate notification if cloning or impersonation is suspected.
• Incorporate this CBI warning into ongoing horizon‑scanning and regulatory‑change logs, classifying the case as a live clone‑firm risk and updating risk assessments for investment scams targeting Irish clients.

Key Dates

Who is Affected