The Ontario Securities Commission (OSC) has issued a warning to investors that United Financial Commodity Group is not registered to sell securities in Ontario.
In a May 24 statement, the OSC explained that United Financial Commodity Group (UFCG) claims to be a commodity trading consultancy firm, offering investment opportunities in various commodities through options contracts, and through an online trading platform that includes foreign exchange investments and cryptocurrencies.
The regulator said that UFCG is soliciting Ontarians via telephone to invest in commodity options. “Neither UFCG or its representatives are registered in Ontario to solicit investments or provide advice on investing in, or buying or selling securities or commodities,” said the OSC.
The British Columbia Securities Commission has also issued a warning about UFCG.
Ontarians who have been approached by UFCG or its representatives are advised to contact the OSC Inquiries and Contact Centre at 1-877-785-1555 or [email protected].