Beware of solicitations by IM Academy (International Markets Live Inc.)

MONTRÉAL, Oct. 23, 2024 /CNW/ - The Autorité des marchés financiers (AMF) is again cautioning Québec consumers about the activities of International Markets Live Inc., which is now operating under the name IM Academy (website: https://im.academy).

The AMF reminds consumers that the Financial Markets Administrative Tribunal¹ issued several orders on June 9, 2016, prohibiting International Markets Live Inc., its president, Christopher Terry, as well as others, from acting as advisers and carrying out any activity for the purpose of trading in derivatives and securities.

Although the company informs those with whom it interacts that it does not offer financial products or services in the province of Québec, the website https://im.academy is accessible from Québec. IM Academy appears to sell various products, including educational materials and courses relating to the financial markets, foreign exchange market (FOREX) and cryptoasset market.

IM Academy targets a young audience and promotes events in various countries through its social media. In addition, the AMF notes that a promotional event will be held soon in the province of Québec, specifically the Montréal area.

The AMF points out that FOREX is a highly speculative market that carries a high level of risk and is characterized by the widespread use of derivatives. Trades involving these types of products could result in substantial financial losses for investors.

IM Academy, International Markets Live Inc. and Christopher Terry are not registered to act as advisers or dealers under the laws administered by the AMF.

Call to consumers

The AMF reminds the public that offering investments—whether over the Internet, by telephone or in person—is a regulated activity. Any individual or firm promoting an investment product must be registered with the AMF or benefit from a registration exemption. To make sure you're not illegally solicited, check whether the individual or firm who contacted you is on the Register of firms and individuals authorized to practise or call the AMF Information Centre.

Check out the AMF website for ways young people can protect themselves against social media scams.

About the Autorité des marchés financiers

In its role as regulator, the Autorité des marchés financiers acts to maintain a financial sector that is dynamic, operates with integrity and warrants public confidence. It regulates, in whole or in part, activities in the following sectors: insurance, securities and derivatives, distribution of financial products and services, deposit institutions, mortgage brokerage and credit assessment.

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¹ Formerly the Bureau de décision et de révision.

FURTHER INFORMATION:

Media only:                                                  Information Centre:              lautorite.qc.ca
Sylvain Théberge: 514-940-2176                 1-877-525-0337                    Autorité des marchés financiers
[email protected]                                                              @lautorite

SOURCE Autorité des Marchés financiers