The BC Securities Commission (BCSC) continues to take a proactive approach to help protect BC investors by publishing entities engaging in unregistered activity or promoting unqualified securities in the province to the Investment Caution List. In this blog post, we will highlight some of the entities that came to our Enforcement Division’s attention over the past few months.
Lloyds International S.A./HR Investment Group
On April 9, 2014, BCSC Enforcement staff added Lloyds International S.A. to the Investment Caution List after receiving information that this entity was soliciting BC investors over the telephone. Lloyds International purports to have offices in South America, and offers trading services in commodities and foreign currencies (forex).
In early April, staff also cautioned British Columbians to be aware of High-Yield Investment Programs (HYIPs) and other investment schemes offered through the Internet when it put HR Investment Group (a.k.a. High Returns Investment Group) on the Investment Caution List. The entry points out that the HR Investment Group website promises unrealistic returns of 10 times the invested amount in 20 days.
This entity is also on the Ontario Securities Commission’s Warning List.
Cedar Finance/T.B.S.F. Best Strategy Finance Limited
On Feb. 12, 2014, the BCSC added Cedar Finance, an entity that provides an online platform for trading binary options and purportedly has an office in Cyprus. Cedar Finance is owned by T.B.S.F. Best Strategy Finance Limited, a firm that is currently suspended by the Cyprus Securities Commission.
Perfect Money Stock LLC/Marklin Investment Group
Staff also added Perfect Money Stock and Marklin Investment Group to the Investment Caution List in February. Both of these websites appear to be HYIPs that offer unrealistic, high returns to investors.
Perfect Money Stock is a private online investment club that is not officially licensed, registered, or insured as a bank or financial institution anywhere in the world. Marklin Investment Group’s website claims it is a private investment firm.
The entities we’ve discussed in this blog post are not registered to trade in, or advise on, securities or exchange contracts in BC. We urge British Columbians to exercise caution when dealing with firms and individuals that are not registered to trade or advise in B.C.
If you are approached by a person or company that is not registered in B.C. to trade in, or advise on, securities and exchange contracts, or if you need help understanding the results of the National Registration Search, please contact us at 1-800-373-6393 or e-mail [email protected].
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The publication of this report in advance of Fraud Prevention Month helps Canadians to more easily identify fraudulent approaches and learn how to avoid them. Several fraud prevention tools and resources are available on the CSA’s website.