The October edition of the Enforcement Roundup features an enforcement action taken by the BC Securities Commission (BCSC). It also includes 8 new additions to the Investment Caution List.
BCSC Settlement Agreement
A now-dissolved medical device company and its sole officer and director, Salari of Vancouver, has paid $70,000 to the BC Securities Commission for misrepresenting aspects of the company’s finances, the status of its intellectual property and regulatory approval, and the ways it would use investors’ money.
Lenis raised about $1.9 million from 11 investors in 2018 and issued an offering document that contained untrue statements. Salari must resign as a director or officer and is prohibited from conducting various market activities for seven years.
BCSC Early Intervention
The BCSC published an Investment Caution List to notify British Columbians about unqualified investments and unregistered activity originating from outside of the province but accept BC residents as clients.
Below are the October additions to the Investment Caution List:
MyProfitLive claims to offer trading services in forex, CFDs, ETFs, futures, and stocks.
KCCCoin claims to be an investment company that specializes in cryptocurrencies.
First Argentine Mining Co. (FAMCO) claims to have offices in Buenos Aires and it also claims to offer four tiers of NFT-based investments that pay a monthly return.
Otrade claims to be located in the United Kingdom and it also claims to offer trading services in contracts for difference, cryptocurrencies, and stocks.
OptionsHouse claims to offer investment management service that involves giving tailored advice on stocks, options, and cryptocurrencies.
BBS Limited claims to be located in Calgary and it also claims to offer CFD trading services in forex, stocks, commodities, crypto, indices, and options.
MetaPro Trades Ltd. claims to be located in the Netherlands and it also claims to offer investment plans and trading services in cryptocurrencies, forex, securities, and derivatives.
LeonMarkets claims to be located in the Marshall Islands and it also claims to offer accounts for trading in forex and derivative contracts in cryptocurrencies, stocks, indices, and commodities.
Report a Concern
If you have any concerns about a person or company offering an investment opportunity, please contact 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 or submit a tip anonymously using the BCSC’s online complaint form.