The Ontario Securities Commission (OSC) is warning Ontario investors not to invest with MI Capital Corporation (MI Capital), its representatives or associated companies and their representatives, including One Capital Corp. Ltd. (One Capital Corp.).
MI Capital claims to be located in Hong Kong and appears to be soliciting residents of Ontario to invest in gold options.
The OSC says MI Capital, One Capital Corp. and representatives of these companies are not registered in Ontario to solicit investments from Ontario residents or to provide advice on investing in, buying or selling securities.
MI Capital and One Capital Corp. also appear to be targeting investors across Canada. The Manitoba Securities Commission and the British Columbia Securities Commission have each issued investor alerts to warn the public about MI Capital targeting residents in those provinces.
The New Brunswick Securities Commission has issued a permanent cease trade order against MI Capital and One Capital Corp.
NBSC cease-trades two firms in Asia
The Alberta Securities Commission has issued a Notice of Hearing against the companies. For more information, please visit the respective websites of these securities commissions.