CALGARY, Feb. 7 /CNW/ - With the RRSP (Registered Retirement Savings
Plan) 2007 contribution deadline fast approaching, the Alberta Securities
Commission (ASC) is reminding investors to Check First before making their
RRSP investment decisions.
The RRSP deadline for the 2007 tax year is February 29, 2008 and during
this month many companies step up the promotion of their investment
opportunities, citing the investment as 'RRSP eligible' or 'RRSP approved'.
The ASC encourages you to research the opportunity before making your
financial decision. To help you Check First, the ASC offers the following tips
to help you ask the right questions before you invest:
Don't feel pressured to make an immediate decision.
You may experience high-pressure sales tactics to make investment
decisions quickly. While the opportunity may sound too good to pass up,
remember to Check First. This will allow time to confirm the suitability of
the offer, determine the level of risk you are willing to take and decide
whether the investment opportunity matches your risk tolerance.
Be wary of unsolicited investments.
Investment opportunities made over the phone, email or social networks
may not be suitable for you. Consider that the people making their pitches may
not know your financial goals, knowledge or level of risk tolerance.
Conduct a background check.
Ask your salesperson if he or she is registered with the ASC or selling
the investment opportunity under an exemption of the Alberta Securities Act.
You can contact the ASC at 1-877-355-4488 to check the information and
determine if the seller is registered or has a history of disciplinary action
with the ASC.
Request offer in writing.
Ask for written copies of the investment you are being offered. Review
all documents carefully and don't be afraid to have a professional adviser
evaluate the offer with you to determine if the opportunity is right for you.
If you suspect a scam, report it.
If you think you have been a victim of fraud or may be involved in an
investment scam, visit www.albertasecurities.com to learn how to make an
inquiry or file a complaint.
For more tips on how to Check First, visit www.albertasecurities.com.
For more information on RRSPs, visit Canada Revenue Agency's website at
The ASC is the regulatory agency responsible for administering the
province's securities laws. It is entrusted to foster a fair and efficient
capital market in Alberta and to protect investors. As a member of the
Canadian Securities Administrators, the ASC works to improve, coordinate and
harmonize the regulation of Canada's capital markets.
For further information:
For further information: For Media Inquiries: Mark Dickey, Senior
Communications Advisor, (403) 297-4481, firstname.lastname@example.org; For Investor
Inquiries: ASC Public Inquiries, Toll Free 1-877-355-4488