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Screenshot of a breaking news alert e-mail from Q2 2017
The British Columbia Securities Commission (BCSC) has added one more company to the list of investment business that seek to attract clients from the Canadian province without having the necessary authorization to do so.
The latest addition to the BCSC’s Investment Caution List is binary options broker Imperial Options, which offers its services via www.imperialoptions.com.
The company gives a physical address for contact in the British Virgin Islands, without any information on licenses and regulatory permissions in any jurisdiction. The BCSC warns that Imperial Options has no license to offer securities services to British Columbia residents.
We should recall at this point that Canada permits companies to offer OTC binary options trading services to local residents as long as these companies obtain the necessary licenses from the watchdogs of the provinces where they wish to target investors. Binary options are treated as securities uder Canadian laws.
Given that Imperial Options has no such authorization in British Columbia, it made it to the Investment Caution List.
The regulator urges British Columbia residents to be cautious when dealing with firms that are not registered to trade or advise in the province.
To view the original text of the warning, click here.