Login
Contact Sales
Login
CONTACT SALES

Canadian Regulators Issue Warning for Halifax & Associates

by | Apr 7, 2020 | Compliance Updates, iComply Insights | 0 comments

Canadian Regulators Issue Warning for Halifax & Associates

Apr 7, 2020 | Compliance Updates, iComply Insights

Multiple Canadian regulators issued investor alerts against online trading platform Halifax & Associates for selling illegal securities

What Happened?

April 7, 2020: Manitoba, Nova Scotia, British Columbia, and other Canadian securities commissions have issued a warning that Denmark-based Halifax & Associates–claiming to be a cryptocurrency trading platform–has been defrauding Canadian investors. The Manitoba Securities Commission (MSC) claimed that a resident was scammed out of CAD$8,000, while the Nova Scotia Securities Commission (NSSC) notes that multiple investors in that province were defrauded.

Source: https://nssc.novascotia.ca/sites/default/files/docs/2020-04-06-NSSC%20Halifax%20and%20Associate%20Investor%20Alert.pdf

Who Is Impacted?

Financial services providers targeting Canadian residents.

Why This Matters?

The Investor Alert helps Canadians assess the credibility of the firms they deal with, or intend to deal with. Investors who do not heed these warnings may be at risk of a total loss of capital–with no recourse for recovery–when dealing with fraudulent and unlicensed service providers operating outside of Canada’s regulatory oversight.

What’s Next?

By issuing the Investor Alert on Halifax & Associates, the NSSC has sent a clear message that these unlawful practices of promoting an unlicensed business can result in public enforcement. This alert could damage a company’s reputation in the public and create barriers to their future growth and development.

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.

The Future of KYC: Trends and Innovations
The Future of KYC: Trends and Innovations

Sep 5, 2024

The landscape of Know Your Customer (KYC) compliance is continually evolving, driven by technological advancements and changing regulatory requirements. This article explores the future of KYC, highlighting emerging trends and...

Advanced KYC Technology for Efficient Compliance
Advanced KYC Technology for Efficient Compliance

Sep 4, 2024

Advanced technology is transforming Know Your Customer (KYC) processes, making them more efficient and effective. This article explores innovative tools and technologies that enhance KYC compliance, ensuring accurate customer...

Vaidyanathan Chandrashekhar

Vaidyanathan Chandrashekhar

Advisors

“Chandy,” is a technology and risk expert with executive experience at Boston Consulting Group, Citi, and PwC. With over two decades in financial services, digital transformation, and enterprise risk, he advises iComply on scalable compliance infrastructure for global markets.
Thomas Linder

Thomas Linder

Advisors

Thomas is a global tax and compliance expert with deep specialization in digital assets, blockchain, and tokenization. As a partner at MME Legal | Tax | Compliance, he advises iComply on regulatory strategy, cross-border compliance, and digital finance innovation.
Thomas Hardjono

Thomas Hardjono

Advisors

Thomas is a renowned identity and cybersecurity expert, serving as CTO of Connection Science at MIT. With deep expertise in decentralized identity, zero trust, and secure data exchange, he advises iComply on cutting-edge technology and privacy-first compliance architecture.
Rodney Dobson

Rodney Dobson

Advisors

Rodney is the former President of ADP Canada and international executive with over two decades of leadership in global HR and enterprise technology. He advises iComply with deep expertise in international service delivery, M&A, and scaling high-growth operations across regulated markets.
Praveen Mandal

Praveen Mandal

Advisors

Praveen is a serial entrepreneur and technology innovator, known for leadership roles at Lucent Bell Labs, ChargePoint, and the Stanford Linear Accelerator. He advises iComply on advanced computing, scalable infrastructure, and the intersection of AI, energy, and compliance tech.
Paul Childerhose

Paul Childerhose

Advisors

Paul is a Canadian RegTech leader and founder of Maple Peak Group, with extensive experience in financial services compliance, AML, and digital transformation. He advises iComply on regulatory alignment, operational strategy, and scaling compliance programs in complex markets.
John Engle

John Engle

Advisors

John is a seasoned business executive with senior leadership experience at CIBC, UBS, and Accenture. With deep expertise in investment banking, private equity, and digital transformation, he advises iComply on strategic growth, partnerships, and global market expansion.
Jeff Bandman

Jeff Bandman

Advisors

Jeff is a former CFTC official and globally recognized expert in financial regulation, fintech, and digital assets. As founder of Bandman Advisors, he brings deep insight into regulatory policy, market infrastructure, and innovation to guide iComply’s global compliance strategy.
Greg Pearlman

Greg Pearlman

Advisors

Greg is a seasoned investment banker with over 35 years of experience, including leadership roles at BMO Capital Markets, Morgan Stanley, and Citigroup. Greg brings deep expertise in financial strategy and growth to support iComply's expansion in the RegTech sector.
Deven Sharma

Deven Sharma

Advisors

Deven is the former President of S&P and a globally respected authority in risk, data, and capital markets. With decades of leadership across financial services and tech, he advises iComply on strategic growth, governance, and the future of trusted data in AML compliance.