Company: INVUP
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010230
Chunk: 140

Company: Investview, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 3
Chunk 140
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 applicable securities laws, due to the immaterial scope and scale
of our operations in Ontario, Canada, we elected to settle the matter with the OSC and conclude the inquiry by implementing a geoblock
throughout Ontario such that no Ontario-based customers would be able to access any of the disputed product offerings.

35

Later in 2024,
we and one of our independent distributors received an enforcement action from the financial regulators in Quebec, Canada, known as the
Autorité des marchés financiers (the “AMF”), in which they challenged certain inappropriate marketing communications
they characterized as “inappropriate” made by this particular distributor, and as well alleged that iGenius was inappropriately
engaging in regulated securities activity without being appropriately registered to do so in Quebec. In discussions with the AMF, it became
clear that the focus of their inquiry was on certain “touting” of financial results by this particular distributor which we
concluded was unauthorized and in violation of our own internal policies and we terminated the distributor. As well, the AMF asserted
that iGenius acted in contravention of securities regulations that require registration to effectuate the sale of securities in Quebec,
by failing to register with the AMF while enabling its members to gain access to certain third-party “robotic” trading platforms,
even though iGenius, among others: (x) derives no direct financial benefit from these introductions; and (b) has no involvement with the
provision of services by the third-party to whom its members are introduced. Even though we believe that our iGenius business fully complies
with all applicable securities laws, due to the immaterial scope and scale of our operations in Quebec, Canada, we have engaged in settlement
discussions with the AMF in order to avoid a protracted and costly legal dispute. In addition to the termination of our distributor, the
preliminary settlement discussions have focused on the following three elements: the payment by iGenius of a CAD $15,000 fine; the implementation
by iGenius of the same type of geoblock that we implemented in Ontario and the admission by iGenius that by introducing its customers
to the third-party service providers offering the “robotic” trading platforms, it committed a violation of Canadian securities
law. Discussions between the AMF and iGenius are ongoing, and no formal agreement has been signed at this time. 

We have carefully
evaluated the basis for the claims asserted by the OSC