Securities regulators in B.C. are warning investors about dealing with a trio of firms that have been cease traded by authorities in Saskatchewan.
The B.C. Securities Commission (BCSC) added three firms — Ocean International Ltd., Manhattan Capital Corp., and Wealth International Corp. — to its investment caution list on Tuesday, noting that the Saskatchewan Financial Services Commission (SFSC) issued temporary cease trade orders against the firms on Aug. 24.
It notes that Ocean, Manhattan, and Wealth, which have the same office address and phone number and identical websites, were cease traded after the SFSC received complaints from Saskatchewan residents who had been solicited to invest with the firms. That order expires Sept. 7. At this point, no allegations have been made against the firms.
The BCSC says that it is not aware of any investor in B.C. that has been solicited by the firms, which are not registered to trade, or advise, in B.C. “We urge British Columbia residents to exercise caution when dealing with firms that are not registered to trade or advise in British Columbia,” it says.