The Superintendence of the Securities Market of the Republic of Panama (hereinafter the “SMV”), in accordance with its legal duty to strengthen and promote the proper environment for the development of the securities market in the Republic of Panama, in compliance with regulation contained in the Securities Law, makes the following public statement:
- The Ontario Securities Commission, on September 17th, 2019, has publicly notified a warning to the investors about Blue Sail Trading Company (BST) and its associated trading platform Derivative 360 / 360Pro, due to is not authorized for brokerage or securities consulting in Ontario. https://www.osc.gov.on.ca/en/NewsEvents_nr_20190917_osc-investor-alert-blue-sail-trading.htm
- According to this alert, BST operates the bluesailtrading.com website and claims to have offices in Costa Rica, Panama, Colombia and Dubai. Through the website, the company offers brokerage services for trading in shares, commodities and forex, among others.
- The SMV has verified the content of the aforementioned website and has confirmed the referent of Panama, as a part of the contact information, in this sense; the SMV warns that Blue Sail Trading (BST) does not have a license or registration to carry out stock market activities nor FOREX in or from the Republic of Panama.
For further information regarding this release, please contact us by phone at (507) 501-1700, fax (507) 501-1709, or email firstname.lastname@example.org.
All the companies that have authorization by the SMV for these activities are available in our website www.supervalores.gob.pa.
October 21st, 2019