Canada’s BCSC Adds Bristol Financial to Investor Caution List
- The firm solicited a British Columbia resident and opened a trading account for him, without being authorised to do so.
The British Columbia Securities Commission (BCSC), one of the thirteen provincial financial regulators in Canada, today updated its blacklist of companies that are illegally conducting financial services targeting its residents, adding Bristol Financial Offshore, a brand allegedly operating out of New York and Luxembourg.
To unlock the Asian market, register now to the iFX EXPO in Hong Kong
[gptAdvertisement]
According to the Canadian watchdog, Bristol Financial Offshore, operating as Bristol Financial and Bristol Offshore, solicited a British Columbia (BC) resident and the company opened a trading account for him without being authorised to do so. The BCSC has therefore urged investors to use caution when dealing with this brand.
The newly-listed company is an offshore provider of several financial services including Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term and commodities broking, automated Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term system and managed accounts. It offers its clients both execution-only and full-service accounts.
Getting back to the BCSC warning, after briefly explaining certain risks related to derivatives products, the provincial authority noted that while some trading activities are regulated, these represent only a portion of the market, while a large portion is illegally traded through unregulated online platforms.
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 unauthorized activities.
The warning follows a similar case highlighted by the BCSC last month in which the forex brokerage Stoxmarket was added to its list of companies not to do business with.
The British Columbia Securities Commission (BCSC), one of the thirteen provincial financial regulators in Canada, today updated its blacklist of companies that are illegally conducting financial services targeting its residents, adding Bristol Financial Offshore, a brand allegedly operating out of New York and Luxembourg.
To unlock the Asian market, register now to the iFX EXPO in Hong Kong
[gptAdvertisement]
According to the Canadian watchdog, Bristol Financial Offshore, operating as Bristol Financial and Bristol Offshore, solicited a British Columbia (BC) resident and the company opened a trading account for him without being authorised to do so. The BCSC has therefore urged investors to use caution when dealing with this brand.
The newly-listed company is an offshore provider of several financial services including Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term and commodities broking, automated Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term system and managed accounts. It offers its clients both execution-only and full-service accounts.
Getting back to the BCSC warning, after briefly explaining certain risks related to derivatives products, the provincial authority noted that while some trading activities are regulated, these represent only a portion of the market, while a large portion is illegally traded through unregulated online platforms.
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 unauthorized activities.
The warning follows a similar case highlighted by the BCSC last month in which the forex brokerage Stoxmarket was added to its list of companies not to do business with.