BCSC Advisory Regarding Pegasus Global Trading Limited
BCSC (British Columbia Securities Commission) adds Pegasus Global Trading Ltd. to the province’s Investment Caution List
What Happened?
April 23, 2020: Pegasus Global Trading Ltd., which claims to be a UK-based online trading platform, was found to be advertising their services to the residents of British Columbia without the required licensing
Pegasus is neither registered to trade in, nor advise on, securities and derivatives in Canada. According to Canadian legislation, Pegasus’ activities were regulated and the firm has been added to the IOSCO warnings list.
Source: https://www.bcsc.bc.ca/Enforcement/Investment_Caution_List/Pegasus_Global_Trading_Ltd_/
Who Is Impacted?
Any Canadian citizen who may have utilized Pegasus Global for advisory or investment-related services. North American businesses engaged in similar business activities or direct business relationships with Pegasus.
Why This Matters?
The BCSC’s Investment Caution List helps Canadian investors identify if they are at risk of a total loss of capital–with no recourse for recovery–when dealing with unlicensed service providers operating outside Canada’s regulatory oversight.
What’s Next?
By adding Pegasus Global Ltd. to the Investment Caution List, the BCSC has sent a clear message that these unlawful practices of promoting an unlicensed business can result in public enforcement. Appearing on these lists will damage a companies reputation and create barriers to their growth.
learn more
Is your AML compliance too expensive, time-consuming, or ineffective?
iComply enables financial services providers to reduce costs, risk, and complexity and improve staff capacity, effectiveness, and customer experience.
Request a demo today.
Paris FinTech Forum 2020: Highlights and Takeaways
This month, iComply attended the Paris FinTech Forum 2020 with Toronto Finance International to represent Canada alongside four other innovative companies driving digital transformation in global finance. The Paris FinTech Forum 2020 (or PFF2020) hosted many of the...
2020 Paris Fintech Forum: iComply and Toronto Finance International
With the first few weeks of 2020 already behind us, our global calendar of events and conferences is filling up quickly! Our team has been invited to join the Canadian delegation along with Toronto Finance International at what is considered one of the largest and...
2019 Toronto Refinitiv Summit: Event Highlights and Takeaways
iComply kicked this month of December off with a bang by attending the fully-packed 2019 Refinitiv Summit at the Ritz-Carlton Hotel in Downtown Toronto. Regulators, global financial leaders, and industry professionals alike were amongst the ranks of prestigious...
