OSC Flags Six Unregistered Entities in Latest Investor Alerts

In the latest investor warnings and alerts, the Ontario Securities Commission (OSC) has cautioned Ontario investors about six entities and their websites, which have been confirmed not to be registered in Ontario to engage in the business of trading in securities.

The OSC’s warning updates are intended to alert the public to potential harmful or illegal activities involving unregistered individuals or companies that perform activities that may pose risks to investors. 

Among those named in the latest update are Virtus Capital and MEXC, both of which have drawn regulatory scrutiny beyond Ontario.

Virtus Capital was previously flagged by the British Columbia Securities Commission (BCSC) for operating a digital asset exchange without proper registration. The OSC’s warning further indicates that Virtus Capital is allegedly misusing details of a legitimate firm, a tactic used in impersonation scams that mislead investors into believing the entity is authorized.

MEXC also received warnings from the Securities Commission Malaysia (SC) and Germany’s Federal Financial Supervisory Authority (BaFin) regarding its unauthorized operations in those jurisdictions.

Investors are urged to always check the registration of any person or business trying to sell an investment or give investment advice. For further verification, investors can Ask a Question on BrokersView for insights into identifying legitimate websites and avoiding scams.