Released on April 21, 2017The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) has issued two Cease Trade Orders against Mpower Technologies Limited and Melnic Group Ltd. The orders expire on May 3, 2017 and may be extended as necessary.
The second company, Melnic Group Ltd., operates out of Bulgaria under the name of BossCapital.com and uses the website www.bosscapital.com. None of the named parties are registered to trade in securities in Saskatchewan. Persons or companies need to be registered in order to sell binary options in Saskatchewan.
Many binary option trading companies’ websites contain references to being registered to do business; however, registration is usually in a foreign country and not applicable in Canada. Any unsolicited calls or online offerings of investment opportunities should be immediately followed up by checking to see if the companies are registered to do business in Saskatchewan.
Investors can check the registration status of any person or company selling investments by using the Canadian Securities Administrators’ National Registration Search database at www.aretheyregistered.ca.
Anyone contacted by Mpower Technologies Limited, CFD Corporate, Melnic Group Ltd., or BossCapital.com, or any of their representatives should contact the FCAA Securities Division at 306-787-5936.
For more information, contact:
Financial and Consumer Affairs Authority
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