BCSC staff added two Panamanian companies to the Investment Caution List after the country’s national securities commission issued a warning about them.

The Panamanian securities regulator warned that InovaTrade Inc. and InovaTrade Panama Inc. are not licenced to do business in the country’s securities industry. The U.S. Commodity Futures Trading Commission also took legal action against InovaTrade Inc.

The BCSC has learned that InovaTrade Inc. has BC clients. If you are contacted by the company, or have information about it, please contact the BCSC immediately.

Penthouse Capital Financial Services Ltd. was also added to the Investment Caution List in mid-September. The Qualicum Beach-based company was put on the list, after staff determined the company appeared to be engaging in trading and advising activities on its website. It is not registered to trade in, or advise on, securities and exchange contracts in BC.

Finally, BCSC staff added Martin Donald Heppner to the Investment Caution List, after the Ontario Securities Commission (OSC) issued an investor alert to warn investors he could no longer sell securities to investors.

Heppner, the principal of Anchor Securities Limited (ASL), was suspended in late August after the OSC held proceedings on the matter. The OSC also suspended ASL’s registration at the proceedings. Details of the decision are available on the OSC website. [http://www.osc.gov.on.ca/SecuritiesLaw_ord_20110830_anchor-heppner.htm]

We urge you to let us know right away if you are contacted by any individual or company that is not registered to trade or advise in BC.

You can do a background and registration search on the InvestRight website if you are unsure about a company or individual’s registration status. Our Inquiries Group can also help you determine registration status. Their contact information is listed under in the “Contact Us” section of the website.

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In Your Community – August 2014

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 NanaimoBe Fraud Aware August 12Private event […]