Quebec’s AMF advises investors in Laboratoire Blockchain to contact regulator

Maria Nikolova

The business is now subject to freezing orders following a ruling by the Financial Markets Administrative Tribunal (TMF).

Quebec’s financial markets authority (AMF) is urging members of the public who invested money in Laboratoire Blockchain (also known as Blockchain Lab) to contact the regulator, as the entity and a number of individuals associated with it are now subject to freezing and injunctive orders.

Earlier in March, the Financial Markets Administrative Tribunal (TMF) has issued a raft of orders targeting Laboratoire Blockchain inc., Jonathan Forte, Benjamin Forte and Nicolas Barbasch-Bouchard over their violations of securities laws.

In particular, the TMF has prohibited the defendants to exercise all activities related to securities. Laboratoire Blockchain inc. was ordered not to dispose of any funds, including any cryptocurrencies in its possession, as well as any pieces of equipment, including ones used for cryptocurrency mining.

Furthermore, the defendants are ordered to withdraw all advertisements and publications related to Laboratoire Blockchain inc., including ones disseminated online and, in particular, via Facebook.

The AMF notes that it is currently conducting an investigation into this case. The regulator asks all people who invested money in Laboratoire Blockchain inc or by using the services of any of the defendants to contact Sarah Abi-Khalil via 1 877 525-0337, 2644, not later than April 1, 2019.

Let’s recall that, in a similar move in February this year, Quebec’s AMF urged investors in cryptocurrency mining firm Technologies Crypto Inc. to contact the regulator. Technologies Crypto, doing business as “Make it Mine” solicited at least $300,000 from investors advising them the money would be used for cryptocurrency mining. Some investors managed to get their money back but others were unable to contact the firm and get their investments back.

Read this next

Technology

Spotware Systems unveils version 4.4 of Desktop and Web terminals

Spotware Systems, a technology provider for the electronic trading industry, has launched updated versions of its cTrader Desktop and Web terminals, which add new functionality to join a roster of advanced trading capabilities.

Institutional FX

Integral reports best monthly FX volume in 6 months

Currency trading on Integral’s platforms rose in September to its highest levels since March 2022 as increased volatility across financial markets led to greater activity on institutional FX venues.

Retail FX

OctaFX pre-launches new trading platform as MT4 and MT5 remain suspended by Apple

Like many other brokers within the FX and CFD industry, OctaFX had all its eggs in one basket, MetaQuotes, only offering access to MetaTrader 4 and MetaTrader 5. OctaTrader will provide the much needed change.

Opinion

Is the Bank of England facing another storm? Op-Ed by Stuart Cole, macro economist at Equiti Capital

An analysis and opinion editorial by Stuart Cole, macro economist at Equiti Capital, 3 October 2022 on what triggered the UK gilt market sell-off and is the Bank of England facing another storm?

Industry News

Kim Kardashian fined $1 million for touting EMAX tokens on social media

“Investors are entitled to know whether the publicity of a security is unbiased, and Ms. Kardashian failed to disclose this information.”

Retail FX

INFINOX launches IX Exchange platform with +20,000 markets in UK

“The launch of IX Exchange is a statement of intent for our growth strategy and a game-changer for our clients’ trading potential.”

Retail FX

Saxo issues gloomy report for Q4 2022 and beyond

Globalisation was the biggest driver behind low inflation over the past 30 years and instrumental for emerging markets and their equity markets. Globalisation in reverse will cause turmoil for trade surplus countries, put upward pressure on inflation and threaten the USD as the reserve currency.

Executive Moves

ICE appoints Caterina Caramaschi to oversee interest rates and equity derivatives

“As the head of a product set covering some of the biggest interest rate and equity derivative benchmarks, at a time when investor’s priorities are firmly focused on interest rate changes and the outlook for global economies, Caterina’s two decades of financial market experience, and the relationships cultivated during that, will be invaluable in developing these products to the benefit of our customers.”

Retail FX

Plus500 sponsors Chicago Bulls ahead of trading platform launch in United States

Plus500 has signed a major multi-year sponsorship deal to become an official global partner of iconic NBA team Chicago Bulls. 

<