The Ontario Securities Commission announced that investors may be eligible to file claims for a share of CAD 300,000 recovered from David Cartu, operating as UKTVM Ltd. and Greymountain Management Limited. Claims must be filed by 5:00 p.m. Eastern Standard Time on March 6, 2026. The funds arise from a May 18, 2021 settlement in which Cartu admitted contravening Ontario securities law by permitting the Cartu Corporations to indirectly facilitate binary options trading by Ontario investors and agreed to pay a CAD 300,000 administrative penalty. The Ontario Superior Court of Justice appointed BDO Canada Limited as receiver to administer the claims process for Ontario residents who made payments to the Cartu Corporations to trade binary options between approximately July 2013 and April 2017, with claim materials available through the receiver for those who have not already received a Notice of Claim; claims received after March 6, 2026 will not be permitted. Receivership costs are being funded by an allocation from OSC sanction and settlement funds.
Ontario Securities Commission 2026-01-15
Ontario Securities Commission launches claims process for CAD 300,000 recovered from David Cartu binary options settlement
The Ontario Securities Commission announced that investors can file claims for a share of CAD 300,000 recovered from David Cartu by March 6, 2026, following a settlement for contravening Ontario securities law. BDO Canada Limited is appointed as receiver to manage claims from Ontario residents who traded binary options with Cartu Corporations between July 2013 and April 2017.