The Ontario Securities Commission (OSC) issued on Tuesday a warning against unauthorized multi-asset broker Bristol Financial Offshore, operating as Bristol Offshore.
The broker has been added to OSC’s warning list since via the website www .bristoloffshore.com it offers services to local citizens and advertises to them without having been granted permission. The broker has not been registered in Ontario, nor has it been authorized to offer its services there.
The OSC keeps a warning list with companies that appear to be engaging in activities that may pose a risk to Ontarian investors. The list consists of 195 companies and individuals as of today.
The regulator’s inclusion of a company to the warning list doesn’t necessarily mean the OSC has made a finding on them. The commission adds to the list entities that it considers are not registered in Ontario, but nevertheless are selling securities or offering investment advice to local citizens, or claiming to sell securities or offer investment advice from Ontario. Another scenario where companies are entered into the OSC’s Warning List is when they offer securities without a prospectus, as the laws require.
Bristol Offshore is a multi-asset offshore brokerage headquartered in the US and Luxembourg. It offers a wide range of financial services, including forex trading. The broker does not provide any information on its website about regulation or licensing.
The OSC is a regulatory body, and as such it makes rules, monitors market participants for compliance with the rules, and investigates possible law breaches, and if it finds a company in breach, the regulator can impose sanctions and bring it to court.
Source: theforexreview.com/2016/01/06/osc-adds-bristol-offshore-to-warning-list
The broker has been added to OSC’s warning list since via the website www .bristoloffshore.com it offers services to local citizens and advertises to them without having been granted permission. The broker has not been registered in Ontario, nor has it been authorized to offer its services there.
The OSC keeps a warning list with companies that appear to be engaging in activities that may pose a risk to Ontarian investors. The list consists of 195 companies and individuals as of today.
The regulator’s inclusion of a company to the warning list doesn’t necessarily mean the OSC has made a finding on them. The commission adds to the list entities that it considers are not registered in Ontario, but nevertheless are selling securities or offering investment advice to local citizens, or claiming to sell securities or offer investment advice from Ontario. Another scenario where companies are entered into the OSC’s Warning List is when they offer securities without a prospectus, as the laws require.
Bristol Offshore is a multi-asset offshore brokerage headquartered in the US and Luxembourg. It offers a wide range of financial services, including forex trading. The broker does not provide any information on its website about regulation or licensing.
The OSC is a regulatory body, and as such it makes rules, monitors market participants for compliance with the rules, and investigates possible law breaches, and if it finds a company in breach, the regulator can impose sanctions and bring it to court.
Source: theforexreview.com/2016/01/06/osc-adds-bristol-offshore-to-warning-list
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