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.

BCSC Inquiries  

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].

 

Suggested Reading

Financial Literacy Report Card – What have we learned?

Better Business Bureau Top 10 Scams: Binary Options

Canadian Securities Administrators encourage investors to check before they invest

More Resources

CRM2 Video Series: Know the Value of Your Investments

Our video called Know the Value of Your Investments sets out what information must be included in your account statements. The video shows that monthly or quarterly account statements must set out the cost and market value of each investment, whether the investment is subject to a deferred sales charge, and whether the account is […]

In your community this month – June 2011

In your community this month BCSC staff ambassadors tour the province, helping people to protect themselves from fraud and unsuitable investments. Our goal is to enable BC investors to develop critical thinking skills so they can become more informed of steps they should take to protect themselves when investing. Where we are this month Victoria […]