Reason for this visit

The Canadian foreign exchange market is very unique. Canada has a unified financial supervisory authority covering all financial industries, that is the Canadian Securities Administration (CSA). On the other hand, however, under the CSA is the Investment Industry Regulatory Organization of Canada (IIROC), which was established in 2008 and is the regulator primarily responsible for the retail foreign exchange market. IIROC is further divided into three regions and 10 provinces independently, and each province and region has its own regulatory environment. Given the country’s sovereignty and its multiple laws and regulations, the foreign exchange market in Canada is rather complex compared with other countries. In order to help investors or practitioners have a more comprehensive understanding of the foreign exchange dealers in Canada, the survey team is going to the country for on-site visits.

On-site visit

This time the survey team went to Canada to visit the foreign exchange dealer ZhuoYi Group as planned, and the survey address was 1370 DON MILLS ROAD STE 300 TORONTO, ON, CANADA M3B3N7.

The survey personnel came to the destination of the current survey according to the above address. The destination is a large office building in Toronto, Canada. Despite efforts to search for the company’s name on the water sign in the hall after arriving at the above site, the investigators failed to find it.

The investigators went upstairs and found a shared office where there were many companies. They tried to search internally, but could not find the company's name or water sign. The investigators confirmed that the dealer does not have an office there.

Conclusion

The investigators went to Canada to visit the foreign exchange dealer ZhuoYi Group as planned, but did not find the dealer's office at its publicly displayed business address. The dealer may have just registered a company at this address without a real business venue. Please choose this dealer carefully.

Disclaimer

The content is for informational purpose only, and shall not be taken as final order for making choice.