The Ontario Securities Commission has issued a warning about a couple of companies that it says may represent a threat to investors.

The OSC has placed two companies on its investor warning list, Parklane Financial and Parklane International, which the commission says are not registered to sell securities in Ontario. It invites investors that have been approached by one of these companies to get in touch with its contact centre.

Companies are on the list, the OSC says, because staff are concerned that they may be: selling securities or offering investment advice in Ontario, or claiming to sell securities or offer investment advice from Ontario, without being registered in Ontario, and without having an exemption, and/or offering securities without a prospectus when they are required to have one.

However, no allegations have been made against either firm by the regulator. “If a company is on the list, it does not mean that the commission has held a hearing or made a finding on the company, or made any judgment about the merits of any product the company is offering,” it says.

It notes, “OSC staff are urging investors to be cautious about the companies on this list. These companies appear to staff to be engaging in activities that may pose a risk to investors.”

IE