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BCSC Advisory Regarding Pegasus Global Trading Limited

by | Apr 23, 2020 | Compliance Updates, iComply Insights | 0 comments

BCSC Advisory Regarding Pegasus Global Trading Limited

Apr 23, 2020 | Compliance Updates, iComply Insights

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.

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