Suspicious Internet solicitations - Caution regarding solicitations by Daniel Salanon

Investor warnings - News

Montréal - The Autorité des marchés financiers ("AMF") is cautioning consumers about activities carried out by Daniel Salanon. He recently solicited investors through ads on the Internet for investments in Daniel Salanon industries inc., a firm connected with importing and exporting second-hand clothes that also uses the corporate names DS industries inc. and DSI inc. The ads were uncovered as part of the AMF's cybersurveillance program.

Daniel Salanon is not registered with the AMF. He may therefore not solicit or advise Québec consumers for investment purposes. Moreover his firm, Daniel Salanon industries inc., has not filed a prospectus with the AMF for the purpose of raising funds through Québec consumers. His solicitations might therefore violate the laws administered by the AMF, including the Securities Act.

In addition, in order to ensure compliance with legislation and protect the public, the AMF has requested that the Bureau de décision et de révision issue prohibition orders and administrative penalties against Daniel Salanon and his firm.

The AMF has intervened with the operators of the site carrying the ads. They have agreed to withdraw the suspicious material.

Reminder to investors

The AMF also reminds investors that it is important to be cautious before investing, regardless of where the firms 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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