The June 2024 edition of the monthly Enforcement Roundup features two enforcement actions taken by the BC Securities Commission (BCSC). It also includes 16 new additions to the Investment Caution List.
BCSC Enforcement
BCSC Settlement Agreements
Wendy Chan and Moxie Strategy Inc.
Wendy Chan, of Vancouver, and her company, Moxie Strategy Inc., have jointly paid $35,000 to the BCSC. Chan admitted to unregistered trading when they referred investors to purchase shares of a company listed on the TSX Venture Exchange.
Read the news release for full details.
Fieldhouse Capital Management Inc. and William Douglas Sereda
Fieldhouse Capital Management Inc. (FCMI) and its CEO, chief compliance officer (CCO), and ultimate designated person (UDP), William Douglas Sereda, agreed to pay $493,457 for failing to comply with investor protection requirements.
A compliance examination found deficiencies with the firm including:
- Incorrectly classifying one investment fund as lower risk
- Allowed clients to be placed in unsuitable investments
- Conflict of interest with certain clients
- Failed to maintain sufficient and current “know you client” information
Read the news release for full details.
BCSC Early Intervention
The BC Securities Commission’s Investment Caution List notifies British Columbians about unqualified investments and unregistered activity originating from outside of the province but accepts BC residents as clients.
Below are the June additions to our Investment Caution List:
Winstone Investment Group
Winstone Investment Group claims to be located in London, England, and it also claims to offer different types of accounts for trading in stocks, commodities, precious metals, indices, and cryptocurrencies.
IGinvest
IGinvest claims to offer different types of accounts for trading CFDs in commodities, indices, stocks, forex, and cryptocurrencies.
LiteGraphs
LiteGraphs claims to be located in Belgium and it also claims to offer different types of accounts for trading in stocks, forex, commodities, indices, and cryptocurrencies.
Wealth Invest 24
Wealth Invest 24 claims to offer different types of accounts for trading in cryptocurrencies.
SSGA Pro
SSGA Pro claims to offer trading services in forex, commodities, indices, and cryptocurrencies.
igcfd.cc
igcfd.cc claims to offer trading services in cryptocurrencies. We are aware that they accept British Columbia (BC) residents as clients.
Azura Capital
Azura Capital claims to be located in Australia and it also claims to offer different types of accounts for trading in cryptocurrencies, stocks, indices, forex, commodities, and NFTs.
Canada Crypto Bank
Canada Crypto Bank claims to be located in Vancouver, British Columbia and it also claims to offer different types of accounts for trading in forex, stocks, indices, commodities, and cryptocurrencies.
Venus4T
Venus4T claims to be located in Switzerland and it also claims to offer different types of accounts for trading in stocks, cryptocurrencies, commodities, and indices.
SPG
SPG claims to offer trading services in forex, cryptocurrencies, and stocks. We are aware that they accept BC residents as clients.
Wealth Building and Investment
Wealth Building and Investment claims to be located in the United Kingdom and it also claims to offer different types of investment packages for cryptocurrency mining.
StoneBridge
StoneBridge claims to offer different types of accounts for trading in stocks, cryptocurrencies, forex, indices, and commodities.
ACUBTC (also known as ACU Global Company Limited)
ACUBTC claims to operate an online cryptocurrency trading platform and we are aware that ACUBTC accepts BC residents as clients.
Goldenzeil.com
Goldenzeil.com claims to offer trading services for cryptocurrencies. We are aware that they accept BC residents as clients.
Arbi Trust Capital
Arbi Trust Capital claims to be located in the United Kingdom and it also claims to offer different types of accounts for trading in cryptocurrencies, stocks, commodities, indices, and forex.
Milk Candy Inc. (Doex.com)
Doex.com claims to operate an online cryptocurrency and futures trading platform.
Report a Concern
If you have concerns about a person or company offering an investment opportunity, please contact the BCSC Contact Centre at 604-899-6854 or 1-800-373-6393 or by e-mail at [email protected]. You can also file a complaint using BCSC’s online complaint form.
If you have information relating to fraud or serious market misconduct, you can securely submit tips through our Whistleblower program. Qualified tips may be eligible for cash rewards up to $500,000.
InvestRight.org is the BC Securities Commission’s investor education website. Subscribe to receive email updates from BCSC InvestRight.
