CIRO Warns Against Morgan PRE for Falsely Claiming IIROC Regulation

The Canadian Investment Regulatory Organization (CIRO) has issued an investor alert on Morgan PRE Limited (operating via preforex.com) for misleading investors with false claims of regulatory oversight and fraudulent affiliations.

Beware: Morgan PRE falsely claims to be regulated by the CIRO

According to CIRO, Morgan PRE is not registered with the organization and has falsely asserted regulation by the Investment Industry Regulatory Organization of Canada (IIROC), CIRO’s predecessor, as well as other regulators.

In addition, the entity falsely claims association with Morgan Stanley Canada Limited, a legitimate CIRO-regulated firm, despite having no connection to the firm. Morgan PRE allegedly misused the firm’s actual address.

The CIRO reminded investors that Morgan PRE has no association with IIROC, CIRO, Morgan Stanley Canada Limited, or Morgan Stanley Wealth Management Canada Inc.

This new alert follows a similar warning issued in May against Astra Wave, a crypto platform falsely purporting CIRO oversight. CIRO has also cautioned the public about scammers impersonating the organisation and the IIROC to deceive investors.

Investors are urged to exercise caution, verify the legitimacy of individuals or firms claiming to represent CIRO, and check regulatory status through official sources before engaging with financial providers.

For guidance on verifying registration status, visit BrokersView.