Notice - Public Warning - Renfrew Capital Management (2022-07-06)

Summary

This is a public warning issued by the Bermuda Monetary Authority alerting consumers and the public that Renfrew Capital Management is not licensed to conduct investment business in Bermuda. The entity operates a website purporting to offer investment services from Bermuda and Ireland, using content copied from legitimate regulated financial service providers.

• No licence: Renfrew Capital Management has not been issued any licence by the Authority, which would be required to legitimately offer the investment services described on its website.
• Cloned content: The Authority found that the website content was copied directly from regulated financial service providers, which is not typical of legitimate websites.
• Related Irish warning: On 28 June 2022 the Central Bank of Ireland issued its own public warning about Renfrew Capital Management's use of a now defunct cloned website.
• Legal basis: The Authority reminds the public that conducting investment business without a licence is an offence under section 12 of the Investment Business Act 2003.

The notice is informational and warns the public that dealing with Renfrew carries increased risk, with anyone doing business with the entity acting at their own risk. It does not impose any ongoing compliance obligations on regulated entities.

Applies to

unlicensed entities offering investment business, members of the public/investors