Montréal - The Autorité des marchés financiers (the AMF) is warning Québec consumers about foreign currency investment offerings, in particular for the Iraqi dinar, the Vietnamese dong and the Egyptian pound.
Based on information obtained by the AMF, some Québec investors were recently solicited to purchase dinars and dongs in exchange for a return when these currencies are revalued.
The AMF reminds investors that when promised a return on the purchase of a currency, they should make sure that the individuals or firms offering this type of product are registered with the AMF, since this is a regulated activity. Investors are encouraged to report to the AMF any solicitation by an individual or firm that does not appear to be registered.
The AMF further reminds consumers that even though the foreign exchange market is actively promoted on the Internet and social media sites, it is nonetheless a complex, volatile and high-risk market. The value of currencies can be influenced by social, political or economic events, as well as numerous other factors. The foreign exchange market is not for every investor, and if someone tells you otherwise, beware.
The Autorité des marchés financiers (the AMF) is the regulatory and oversight body for Québec's financial sector.
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Sylvain Théberge : 514-940-2176
Québec City: 418-525-0337
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