CALGARY, July 13, 2012 /CNW/ - The Alberta Securities Commission (ASC) has received an undertaking from Bforex Ltd. regarding its online foreign exchange or "forex" trading platform.
Bforex representatives contacted the ASC after the Commission issued an investor alert advising Albertans that Bforex may be soliciting Alberta investors without being registered to trade securities in Alberta or making filings with the ASC regarding the trading and distribution of any securities. Bforex advised the ASC that its online services were provided to clients in numerous countries and that it had no intention of breaching Alberta securities laws.
The company's undertaking confirms Bforex's services will not be offered to Alberta investors and that the company will take steps to prevent Albertans from accessing its website.
The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted to foster a fair and efficient capital market in Alberta and to protect investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.
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