July 24, 2012 Investor warnings - News

Montréal – The Autorité des marchés financiers (the “AMF”) cautions investors about recent solicitations made by e-mail and telephone to invest in the derivatives market through Best Commodity Options, a company that is not authorized to operate in Québec.

At least one Quebecker was solicited recently in an assiduous and insistent manner, first by e-mail and then by telephone, by a person named Gary Wallace. He used high-pressure sales tactics to entice the person to invest in the derivatives market through Best Commodity Options, an investment company that is seemingly domiciled in Panama. Neither Gary Wallace nor Best Commodity Options is registered with the AMF.

Since they are not registered with the AMF, these solicitations targeting Québec investors may violate the laws administered by the AMF, in particular the Derivatives Act.

Reminder for investors

The solicitation made by e-mail and telephone in this case is a reminder of the importance of exercising caution when sharing personal information on the Web and on social media sites.

Before entrusting their savings to the person soliciting them, the AMF invites investors to ask five questions (in French only) to avoid financial fraud.

The Autorité des marchés financiers (the “AMF”) is the regulatory and oversight body for Québec’s financial sector.

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