Montréal - The Autorité des marchés financiers (the "AMF") is warning Québec consumers about activities purportedly being carried out by Fabrice Mvondo through on-line advertisements in which he offers investments in derivatives.
Fabrice Mvondo is not registered with the AMF and therefore cannot solicit Québec consumers or advise them for investment purposes. His solicitation of Québec investors could contravene the laws administered by the AMF, including the Derivatives Act.
Through its cybersurveillance program, the AMF has uncovered advertisements posted by Fabrice Mvondo on the Internet in which he solicits Quebeckers to invest in foreign currency (FOREX) and binary options.
To ensure compliance with the law and protect the public, the AMF is asking the Bureau de décision et de révision ("Bureau") to issue prohibition orders and administrative penalties against Fabrice Mvondo.
Reminder to investors
The AMF also reminds investors that it is important to be cautious before investing, regardless where the companies or individuals offering the investments are from. Investors should ensure that firms and individuals offering to act as intermediaries have the necessary approvals by checking the AMF's Register or speaking with an agent from the Information Centre.
If you discover suspicious ads or have responded to offers similar to those mentioned above, do not hesitate to contact the Information Centre.
The Autorité des marchés financiers (the "AMF") is the regulatory and oversight body for Québec's financial sector.
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