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OSC warns investors about WiseBanc

By The IJ Staff | March 26 2019 09:30AM

Photo: Freepik

The Ontario Securities Commission (OSC) has issued a warning to 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, says the OSC.

The OSC says WiseBanc is actively soliciting Ontario residents. It advises Ontarians who have been approached by representatives of WiseBanc to contact the OSC Inquiries and Contact Centre at 1-877-785-1555 or [email protected].

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

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