The Financial Supervision Authority

Year 2002Regulated by Government

The Financial Supervision Authority, which was launched on 1 January 2002, joined the functions of Eesti Pank's Banking Supervision Authority and the Ministry of Finance's Insurance Supervision Authority and Securities Inspectorate. It is a financial supervision and crisis resolution authority with autonomous responsibilities and budget that works on behalf of the state of Estonia and is independent in its decision-making.

Disclose broker
Danger Unauthorized
Disclosure summary
  • Disclosure matching Website matching
  • Disclosure time 2022-08-03
  • Reason for punishment The entity by the name Northstate (Commonwealth of Dominica), formerly operating the website www.northstate.io, has been claiming to be an investment firm / investment business firm in the State in the absence of appropriate authorisations.
Disclosure details

Finantsinspektsioon Investor Alert - Northstate (www.northstate.io) 03/08/2022 Ireland

Central Bank of Ireland Issues Warning on Unauthorised Firm – Northstate It has come to the attention of the Central Bank of Ireland (‘Central Bank’) that a scam entity by the name Northstate (Commonwealth of Dominica), formerly operating the website www. , has been claiming to be an investment firm / investment business firm in the State in the absence of appropriate authorisations. A list of unauthorised firms published to date is available on the Central Bank website. It is a criminal offence for an unauthorised firm to provide financial services in Ireland that would require an authorisation under the relevant legislation for which the Central Bank is the responsible body for enforcing. Consumers should be aware, that if they deal with a firm that is not authorised, they are not eligible for compensation from the Investor Compensation Scheme. Fraudsters are increasingly using legitimate firms’ details to add an air of legitimacy to their fraud. The fraudsters will 'borrow' some or all of the legitimate information of an authorised / legitimate firm for the purpose of this fraud. They may quote authorisation numbers / company registration numbers and links to seemingly legitimate websites and even provide the real address of an authorised / legitimate firm. Consumers are advised to check our to verify a firm’s details and to call the firm back directly using its advertised phone number. Always access the register from our website, rather than through links in emails or on a firm’s / person’s website. There are some further steps that individuals should take before dealing with firms / persons which purport to offer financial services: 02 August 2022 Warning Notice northstate.io register Always double-check the URL and contact details of a firm / person in case it is a ‘clone firm / person’ pretending to be an authorised firm / person, such as your bank or a genuine investment firm. Check the list of unauthorised firms. If the firm / person is not on our list, do not assume it is legitimate – it may not have been reported to the Central Bank yet. Check that the product being offered to you is present on the website of the legitimate firm. If you are considering buying a financial product or dealing with a firm, through a website or social media, or if you receive an unsolicited phone call, email, text message or pop-up box out of the blue, take the SAFE test. For further information, please visit the Avoiding Scams and Unauthorised Activity section of the Central Bank’s website. 8/3/22, 9:02 AM Central Bank of Ireland Issues Warning on Unauthorised Firm – Northstate https://www.centralbank.ie/news/article/warning-notice-northstate-02-august-2022 2/2 Any person wishing to contact the Central Bank with information regarding such firms / persons may telephone (01) 224 4000. This line is also available to the public to check if a firm is authorised. Notes to editors The name of the above firm is published under Section 53 of the Central Bank (Supervision and Enforcement) Act 2013.
Annex