The Financial and Consumer Affairs Authority (FCAA) is warning investors about iMetals Group, claiming to be based in Spain; and ucMetals Ltd., claiming to be based in the United Kingdom.

They are soliciting Saskatchewan investors and asking them to open commodities trading accounts.  Companies and their representatives who trade or advise in securities or derivatives in Saskatchewan need to be registered with the FCAA.  These two companies are not registered.

If you have invested through, or been contacted by, representatives of either iMetals Group or ucMetals Ltd., or if you have been the victim of any type of investment fraud attempt, you can contact the FCAA’s Securities Division.

For more investor protection information go here.

Tips to protect yourself:

• Always check the registration of the person or company selling or advising about securities or derivatives.  To check registration, visit The Canadian Securities Administrations’ National Registration Search here.
• Know exactly what you are investing in.  Make sure you understand how the investment, product or service works.
• Get a second opinion and seek professional advice before you invest.