TORONTO – The Ontario Securities Fee (OSC) issued a temporary cease trade order in opposition to Merchants World Group Inc., doing enterprise as myforexfunds.com, and its principal, Muhammad Murtuza Kazmi.
The OSC is investigating potential breaches of securities legislation by Merchants World Group Inc., an Ontario company, and Kazmi, an Ontario resident. These embody provisions associated to fraud, unregistered buying and selling and the unlawful distribution of securities.
Merchants Group World Inc. and Kazmi aren’t registered with the OSC in any capability. They don’t seem to be approved to supply buying and selling in securities to anybody in Ontario. The short-term stop commerce order issued as we speak prohibits additional buying and selling in securities by Merchants World Group Inc. and Kazmi.
The OSC acknowledges the help offered on this investigation by the Commodity Futures Buying and selling Fee (CFTC). The CFTC introduced as we speak that it has filed a grievance in opposition to Merchants Group World Inc., its associated New Jersey company and Kazmi in america District Court docket for the District of New Jersey.
Ontario traders who’ve been approached by Merchants World Group Inc. or Kazmi ought to contact the OSC’s Inquiries and Contact Centre at 1-877-785-1555 or [email protected].
The OSC urges traders at all times to check the registration of any individual or enterprise making an attempt to promote them an funding or give them funding recommendation.
The mandate of the OSC is to supply safety to traders from unfair, improper or fraudulent practices, to foster honest, environment friendly and aggressive capital markets and confidence within the capital markets, to foster capital formation, and to contribute to the steadiness of the monetary system and the discount of systemic threat. Traders are urged to examine the registration of any individuals or firm providing an funding alternative and to assessment the OSC investor supplies accessible at http://www.osc.ca.
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