FSA assists Ontario Securities Commission in investigations against a company incorporated in Seychelles |23 August 2021

The Financial Services Authority has assisted the Ontario Securities Commission 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 the Financial Services Authority (FSA) for ‘its assistance in this matter.’

FSA chief executive Damien Thésée 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.”

Press release from the Ministry of Finance, Economic Planning and Trade