BCSC Advisory Regarding Pegasus Global Trading Limited
BCSC (British Columbia Securities Commission) adds Pegasus Global Trading Ltd. to the province’s Investment Caution List
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.
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.
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.
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.
iComply Outlines Vision of a Trusted Digital Ecosystem in Newly Released White Paper
iComply’s white paper, “The Importance of Digital Identity in the Modern World,” delves into the challenges of our current digital identity landscape, presents an optimistic vision for the future, and outlines our mission to create a trusted, secure digital ecosystem. This document is a must-read for anyone invested in shaping a future where every transaction is secure, private, and compliant.
Travel Rule Facts: What to Know About FATF’s Recommendation 16
Are you aware of the key details pertaining to the Financial Action Task Force (FATF)’s Travel Rule? As a relative newcomer into the global securities and digital legislation field, the Travel Rule—also referred to as “FATF Recommendation 16”—has garnered significant...
EDD In Review: Taking A Brief Look at Enhanced Due Diligence
Are your Enhanced Due Diligence (EDD) protocols up to the task of mitigating risk in an increasingly digital world? With Interpol’s new Global Crime Trend report strongly indicating that money laundering, phishing, and online scams pose a significant risk to...