The Autorité des marchés financiers (AMF) is warning investors about an unauthorized firm soliciting derivatives market trades.
The AMF said Tuesday that a firm called Best Commodity Options, which appears to be based in Panama and is not authorized to operate in Quebec, is making solicitations by email and telephone to invest in the derivatives market. It reports that at least one Quebecker was recently solicited by a person named Gary Wallace, on behalf of the firm, using high-pressure sales tactics.
Neither Wallace, nor Best Commodity Options, is registered with the AMF, the regulator warns. And, it says, since they are not registered, these solicitations targeting Québec investors may violate derivatives laws.
The AMF also reminds investors to exercise caution when sharing personal information on the Web and social media sites.