TORONTO, March 15, 2016 /CNW/ - March is Fraud Prevention Month, and the Mutual Fund Dealers Association of Canada (the "MFDA") is promoting fraud awareness and prevention among Canadian investors. The MFDA maintains several investor education resources on its website, and to mark the occasion of Fraud Prevention Month the MFDA has compiled its fraud prevention resources into a Fraud Awareness Toolkit for investors.
"The MFDA is committed to protecting Canadian investors and providing them with access to investor education resources. The MFDA Fraud Awareness Toolkit provides meaningful information to Canadian investors on how to identify investment fraud and what proactive steps they can take to avoid becoming a victim of fraud," said MFDA President and CEO Mark Gordon.
The Fraud Awareness Toolkit includes four (4) specific resources:
- The MFDA Fraud Prevention Brochure that explains how to identify fraudulent investments, and sets out steps that investors can take if they believe an investment they are being offered is fraudulent.
- The MFDA Fraud Awareness Quiz in which investors can learn key methods and concepts about protecting themselves from investment fraud. Important subjects covered in the Quiz include the relationship between risk and reward, how to identify the red flags of fraud, the importance of only buying securities offered through a registered dealer, why signing a blank form may expose one to fraud, and actions that investors can take if they believe they are a victim of fraud.
- The MFDA "Check an Advisor" guide that sets out the steps investors can take to check the registration and disciplinary history of their advisor.
- Links to Annual Enforcement Reports that contain summaries of significant disciplinary cases, many of which involve serious allegations such as undeclared outside business activities, misrepresentation and personal financial dealings.
The Fraud Awareness Toolkit is now available on the MFDA's website at www.mfda.ca on the For Investors page. The MFDA will also raise investor awareness of the toolkit and Fraud Prevention Month through its Twitter account @MFDA_News.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its Members and their approximately 83,000 Approved Persons with a mandate to protect investors and the public interest. For more information about the MFDA's complaint and enforcement processes, as well as links to 'Check an Advisor' and other Investor Tools, visit the For Investors page on the MFDA website.
SOURCE Mutual Fund Dealers Association of Canada
For further information: Ian Strulovitch, Director, Public Affairs, (416) 943-7425, [email protected]