FSA assists Ontario Securities Commission in investigation against a company incorporated in Seychelles

August 20, 2021

The Financial Services Authority (FSA) has assisted the Ontario Securities Commission (OSC), in its investigation against Aux Cayes Fintech Co.Ltd (Aux Cayes), which is incorporated in Seychelles.

Following the investigation, the Commission has published a ‘Statement of Allegations’ against the company, for failing to comply with the Ontario Securities law.

Aux Cayes operates the OKEx Platform, which is an ‘unregistered crypto asset trading platform.’

In a press statement, the Ontario Securities Commission has expressed its appreciation to FSA for ‘its assistance in this matter.’

The Chief Executive Officer of the FSA, Damien Thesee, states that in line with the Authority’s transformation towards ensuring proper compliance and supervision across the non-bank financial services sector, it will ‘ensure that all licensees and licensed entities under its purview abide to the rules and regulation governing the jurisdiction so as to mitigate any potential risks associated with the services this sector provides.’

To read the press statement issued by the Ontario Securities Commission in full, download the below link.

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