Canadian regulator MSC has issued Boss Capital warning along with an alert against Option500. What is the reason behind these warnings?
31 May, AtoZForex – Canadian financial regulator, the Manitoba Securities Commission (MSC), has issued a warning against two Binary Options brokerages – Option500 and Boss Capital. According to the official regulatory statement, these firms have no authority to operate in the province.
Why did Canada regulator MSC issue Boss Capital warning?
The Manitoba Securities Commission is continuing the string of its warnings for investors while striving for the greater level of transparency in the market. Therefore, the Canadian provincial regulator has added two new names to its warning list, Option500 and Boss Capital. Specifically, both of the firms appear to be Binary Options brokers.
The latter broker, Option500 is operating online via www.option500.com. Moreover, the firms’ parent company is Options Solutions Online Limited. The entity is providing traders with the opportunity to trade commodities, Forex, stocks, and indices on the exotic options market. According to the regulatory announcement, Option 500 is allegedly operating out of Aberdeen, Aberdeenshire, Scotland, United Kingdom.
Back in October 2016, the Hong Kong Securities and Futures Commission (SFC) has blacklisted Option500, which appeared to be targeting Hong Kong and abroad investors without being licensed by the regulator. Also, the broker has been red flagged by Cypriot financial regulator back in October 2015. The Cyprus Securities and Exchange Commission (CySEC) has issued warning against Option500, stating that the broker was never registered in the country.
Boss Capital MSC warning
The other brokerage, Boss Capital made it to the warning list of MSC since the firm has no authority to engage in the trading or advising on the investing in securities across the province. According to the regulatory findings, the firm is operating from Sophia, Bulgaria. Also, you can find the official website of the firm at BossCapital.com.
Earlier this April, another Canadian regulator, the Securities Division of Financial and Consumer Affairs Authority (FCAA) red flagged Boss Capital. Furthermore, the Boss Capital has received a warning note from a number of other regulators.
Dating back to September 2016, the French Autorité des Marchés Financiers (AMF) blacklisted the Boss Capital as an unauthorized firm. In addition, the Italy’s CONSOB red flagged Boss Capital in July 2016. Also, the Australian Securities and Exchange Commission (ASIC) issued a warning against Boss Capital in June 2016.
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