The British Columbia Securities Commission (BCSC), one of the thirteen provincial financial regulators in Canada, has added investment firm Bristol Financial Offshore to its ever-growing Investment Caution List, according to a BCSC statement today.
Solicited Services Without Permission
The BCSC became aware of Bristol Financial Offshore after finding that the firm had solicited a British Columbia (BC) resident.
Bristol Financial Offshore, operating as Bristol Financial and Bristol Offshore operates online under the url www.bristoloffshore.com, is based in New York and Luxembourg. The firm offers clients a range of execution-only and full-service accounts via a fully automated online trading system.
FXTM Recruits Financial Broadcaster Han Tan to its Market Research TeamGo to article >>
According to the BCSC’s statement, this firm is not registered to trade in, or advise on, securities or exchange contracts in BC and is one of many alerts issued by the watchdog which involve unauthorised soliciting or contact with retail investors in Canada by unlicensed brokers.
This latest warning follows last month’s addition of two further brokerages, Royal Downing Investments and FX-Inter, who unlawfully solicited their services in a similar manner, as reported by Finance Magnates.
The BCSC is the independent provincial government agency responsible for regulating securities trading in British Columbia through the administration of the Securities Act. The regulator website provides information, tools and resources for investors, including investor warnings about individuals and companies that appear to be engaging in unauthorised activities.
In parallel to today’s warning against Bristol Financial Offshore, the BCSC has reminded BC residents to exercise caution when dealing with firms that are not registered to trade or advise in BC.