ST. JOHN'S, March 4, 2014 /CNW/ - Canadian securities regulators are
recognizing Fraud Prevention Month this March by encouraging investors
to take early and proactive steps in protecting themselves from
"Checking registration and asking questions when choosing a financial
adviser are the first steps investors can take to avoid falling victim
to investment fraud," says Bill Rice, Chair of the Canadian Securities
Administrators (CSA) and Chair and CEO of the Alberta Securities
Commission. "The relationship between adviser and investor is more than
filling out forms or ticking boxes. There needs to be an ongoing
conversation about the investor's goals and how to meet them with
suitable products, while communicating the risks that come with
Securities regulators stress that being an informed investor is the best
defence against investment fraud. The CSA website offers several free
educational tools and resources for investors, including how to check
the background of an individual or firm, what to ask when choosing a
financial adviser, and how to maintain a successful working
relationship with an adviser.
The CSA also offers the National Registration Search, a tool that allows
investors to easily check if a firm or individual is registered to sell
securities or offer investment advice in their jurisdiction. Canadian
securities regulators will only register firms and individuals that
meet specific qualifications and standards.
The CSA is encouraging investors nationwide to participate in Check
Registration Day on March 19, 2014. Here's how:
If you discover that the person you are dealing with is not registered,
call or email your local securities commission immediately.
The CSA, the Council of Securities Regulators of Canada's provinces and
territories, coordinates and harmonizes regulation for the Canadian
capital markets. Their mandate is to protect investors from unfair or
fraudulent practices through regulation of the securities industry.
Part of this protection is educating investors about the risk,
responsibilities and rewards of investing.
SOURCE: Canadian Securities Administrators
For further information:
Office of the Superintendent of Securities
Government of Newfoundland and Labrador
Autorité des marchés financiers
Ontario Securities Commission
British Columbia Securities Commission
Manitoba Securities Commission
Financial and Consumer Services Commission (New Brunswick)
Nova Scotia Securities Commission
Financial and Consumer Affairs Authority of Saskatchewan
The Office of the Superintendent Securities, P.E.I.
Alberta Securities Commission
Office of the Yukon Superintendent of Securities
Nunavut Securities Office
Northwest Territories Securities