Ontario Securities Commission warns on unregistered firms in Ontario
Ontario's market regulator is expanding its latest investor warning list with two names flagged as not registered to trade or advise on securities in the province. The alert covers Risance Ltd. and Smjer Fundark during the September 22, 2026 to October 14, 2026 period.
Highlights
- Ontario Securities Commission warns that Risance Ltd. and Smjer Fundark are not registered to deal or advise in securities in Ontario.
- The OSC urges investors to verify registration status using its Check Before You Invest and Crypto businesses pages before entering investment arrangements.
- The OSC maintains a warning list for firms posing risks to investors and advises Ontario residents to report unregistered solicitations to its Contact Centre.
Latest warning list update
As reported by Ontario Securities Commission, citing the Ontario Securities Commission, the regulator is warning Ontario investors that Risance Ltd. and Smjer Fundark are not registered to deal or advise in securities in Ontario.The OSC says it issues investor warnings and alerts when it identifies possible harmful or illegal activity in progress, and it maintains a warning list of companies or individuals whose activities may pose a risk to investors.
Ontario residents who have been approached by either of the named firms, or by any other unregistered company or individual, are advised to contact the OSC Contact Centre by phone or email.
Investor protection and market oversight
The commission says investors should verify the registration status of any person or business attempting to sell an investment or provide investment advice. It adds that these checks can be made through its Check Before You Invest and Crypto businesses pages.The OSC says its mandate includes protecting investors from unfair, improper or fraudulent practices, supporting fair, efficient and competitive capital markets, promoting capital formation, and contributing to financial system stability and lower systemic risk. It also directs investors to its website for the full list of warnings and alerts, as well as email notifications and updates on its X feed.
Our earlier article on Apate’s AI scam-baiting agents explained how the startup uses automated “decoy” conversations across calls, messages and online channels to engage fraudsters and gather actionable fraud intelligence before real victims lose money. We noted that the approach is gaining traction among banks and other institutions as investment scams increasingly leverage AI tactics, making earlier detection and disruption a key part of modern investor protection.
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