News & Events

News Release


Ontario
Securities
Commission


Floor 22 - 20 Queen Street West
Toronto, Ontario
M5H 3S8
Commission des
valeurs mobilières
de l'Ontario
FOR IMMEDIATE RELEASE

March 22, 2019
 

OSC Investor Alert: WiseBanc

TORONTO – The Ontario Securities Commission (OSC) is warning investors that WiseBanc is not registered in Ontario to solicit investments, trade securities, or provide advice on investing in, buying, or selling securities.

WiseBanc maintains the website WiseBanc.com, where it claims to operate a trading platform for a variety of assets, including contracts for difference, stocks, and Bitcoin.

The United Kingdom Financial Conduct Authority, the Central Bank of Ireland, and the Financial Markets Authority of New Zealand recently issued warnings about WiseBanc.

WiseBanc is actively soliciting Ontario residents. Ontarians who have been approached by representatives of WiseBanc are advised to contact the OSC Inquiries and Contact Centre at 1-877-785-1555 or inquiries@osc.gov.on.ca.

The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair and efficient capital markets and confidence in the capital markets, and to contribute to the stability of the financial system and the reduction of systemic risk. Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at http://www.osc.gov.on.ca.

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For Media Inquiries: media_inquiries@osc.gov.on.ca
For Investor Inquiries: OSC Contact Centre
416-593-8314
1-877-785-1555 (Toll Free)
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