The Autorité des marchés financiers (AMF) is the latest provincial regulator warning investors about the financial products and services of A&L Royal Finance Inc., a foreign company that’s claiming it operates in the province legitimately.

In particular, the Quebec regulator’s cybersurveillance team could not confirm the company’s existence.

“Neither A&L Royal Finance Inc. nor [its] alleged directors and representatives are registered with the AMF or hold a right to practice [as] issued by the AMF,” states the regulator’s announcement. “They do not rely on any exemption, which would allow them to solicit Quebec consumers of financial products and services.”

The AMF’s investigation into the matter revealed that A&L Royal Finance is using the website content of Canadian financial market participants that are registered with the regulator illegally. This content includes the photographs and biographical information of officers or professionals within those companies. The regulator has contacted the individuals and companies concerned.

The AMF is encouraging investors to check whether their financial advisor or financial services firm is registered with the regulator through its website. It is also asking that anyone who has detected or been the victim of a scam contact its information centre.

The B.C. Securities Commission (BCSC) also issued a warning about A&L Royal Finance in May, saying that the firm had not filed a prospectus or an exempt distribution report in B.C., and was not registered to trade in, or advise on, securities or exchange contracts in the province.

The BCSC informed the public that it became aware of A&L Royal Finance through the company’s advertisement promising an investment that guaranteed a 10% monthly return and a 100% return after 10 months of maturity.