Ontario, B.C. regulators warn about unregistered commodities seller

red warning flag on a stormy beach

A company claiming to be a commodity trading consultancy firm is not registered to solicit investments, securities regulators in Ontario and B.C. warn.

The Ontario Securities Commission (OSC) and the British Columbia Securities Commission (BCSC) issued a warning Friday about the United Financial Commodity Group (UFCG), which is soliciting investments in commodity options by telephone.

“UFCG claims to be a commodity trading consultancy firm, offering investment opportunities in various commodities through options contracts, and through an online trading platform that includes foreign exchange investments and cryptocurrencies,” the OSC said in a release.

The company is not registered to sell securities and clients approached by UFCG should contact the regulator, the release said.