Canadian Regulator OSC Warns Against Zurich Prime

Ontario Securities Commission (OSC), one of the thirteen provincial financial regulators in Canada, has added Zurich Prime to its list of companies not to do business with, according to a regulatory statement.

OSC has updated its blacklist of companies that are illegally conducting financial services targeting provincial residents to add U-Nex Global Ltd operating as Zurich Prime, and doing business through its website www.zurichprime.com. The firm is not registered in Ontario to engage in the business of trading in securities or advising anyone with respect to investing in, buying or selling securities.

A brief review of the broker’s websites reveals that it offers trading facilities on a wide range of financial instruments, ranging from foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term, 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 options, to contracts for difference (CFDs) on stocks. ‎However, Zurich Prime didn’t claim a specific regulatory status in any jurisdiction.

The warning follows a similar case highlighted by the OSC last month in which Nemesis Capital Limited, operating as AlfaTrade, was added to its list of unregulated investment providers.

In its capacity as one of Canada’s provincial regulators, the OSC seeks to protect investors while promoting fair and efficient capital markets throughout the province. 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.