Investor Alert: Celox.live

Type: Media Release> General

Contact:

Sean Hamilton
Director, Public Affairs and Member Education Services
Telephone:
Email:

Be an informed investor - don't be fooled by fraudsters misrepresenting themselves

September 17, 2021 (Toronto, Ontario) – The Investment Industry Regulatory Organization of Canada (IIROC) is warning Canadian investors not to be fooled by Celox.live.

Celox.live falsely claims to be an IIROC-regulated online trading broker and uses IIROC's and its legitimate dealer members' information on forms and contracts to entice investors. The company is an offshore, unregulated entity.

Certain crypto-assets have generated a lot of hype. All investors must be informed and ask themselves important questions before purchasing higher-risk investment products that do not trade on stock exchanges. Investors should know that crypto-asset trading platforms are not the same as regulated marketplaces and may be missing key investor protections.

IIROC-regulated investment firms and individuals must meet our high standards and deal fairly, honestly and in good faith with Canadian investors. We urge Canadian investors to exercise caution when dealing with non-IIROC-regulated firms. Investors can verify an investment firm's registration on IIROC's website.

As part of IIROC's mandate to protect investors and the integrity of our markets, IIROC issues investor alerts cautioning Canadian investors about potential fraudsters that may pose a risk to investors. The Canadian Securities Administrators also provide investor alerts.

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About IIROC:

IIROC is the pan-Canadian self-regulatory organization that oversees all investment dealers and their trading activity in Canada's debt and equity markets. IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while supporting healthy Canadian capital markets. IIROC carries out its regulatory responsibilities through setting and enforcing rules regarding the proficiency, business and financial conduct of 174 Canadian investment dealer firms of varying sizes and business models, and their more than 31,000 registered employees. IIROC also sets and enforces market integrity rules regarding trading activity on Canadian debt and equity marketplaces. For more information, visit www.iiroc.ca.

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MFDA and IIROC have consolidated

As of January 1, 2023 the MFDA and IIROC have come together as New Self-Regulatory Organization of Canada (New SRO).

New SRO has assumed the regulatory responsibilities of the MFDA and IIROC.

We have set up an interim website for updates and information related to the New SRO including:

  • Executive Management
  • Governance
  • New SRO Rules
  • Member Application
  • Investor Office and the Investor Advisory Panel
  • Information concerning mutual fund dealers registered in Québec
  • Complaints
  • Careers

Enforcement proceedings, membership lists, continuing education, investor education resources and any other information not set out above continue to reside on www.mfda.ca and www.iiroc.ca.