The Office of the Superintendent of Financial Institutions (OSFI) of Canada has published the attached “Warning Notice” (Issue No. 53), which lists the names of 10 entities recently brought to OSFI’s attention. These entities are: AXA Seguros S.A., Madrid, Spain; Banca Generali, Toronto, Ontario; Commerce and Cooperative Offshore Bank (no address); First Rate Financial Group Inc. (no address); Global Control Foreign Exchange (no address); Mid-Island Group/Western Empire Bank (no address); Northern Bancorp Inc., Oakville, Ontario; Reserve Union, Toronto, Ontario; TD Canadan Trust Bank (no address); and Zenon Parks Savings and Credit Union (no address). Each OSFI “Warning Notice” and a cumulative “Warning List” may be found at: http://www.osfi-bsif.gc.ca/osfi/index_e.aspx?ArticleID=166.

These entities, or persons representing them, are reportedly operating in Canada. They may be violating provisions of the Bank Act (Canada) or other Canadian financial institution regulations. They may also be conducting unauthorized banking transactions in the United States. Any proposed transactions involving these entities should be viewed with extreme caution.

Any information about these entities may be forwarded to the FDIC’s Special Activities Section, 550 17th Street, N.W., Room F-4040, Washington, D.C. 20429. Information also may be forwarded electronically to alert@fdic.gov. Information related to federal deposit insurance or consumer issues should be submitted to the FDIC using an online form, which can be accessed at http://www2.fdic.gov/starsmail/index.html.

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Distribution: FDIC-Supervised Banks (Commercial and Savings)

NOTE: Paper copies of FDIC Special Alerts may be obtained through the FDIC's Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (1-877-275-3342 or (703) 562-2200).