What the BCSC can and cannot do
As a regulator with a mandate to foster fair markets and educate investors so they better understand the investments they make, the BCSC has a wide range of authority, including enforcement powers to disrupt, stop, and prevent unscrupulous market behaviour. But we can't do everything, and our system of regulation is quite different from that in the United States. Here's a summary of the BCSC can, and cannot, do.
The BCSC can
- Answer general questions about investment products and services
- Tell you if a firm or representative is registered in British Columbia
- Tell you if an individual or firm has ever been disciplined by the BCSC
- Suggest options for pursuing your complaint and tell you which organization may be of the most help
- Enforce compliance with securities legislation
- Act against market misconduct, including removing from the market those who do not comply with the law or who cheat investors
The BCSC cannot
- Force someone to give your money back
- Undo a transaction
- Give advice on an investment
- Give legal advice
- Negotiate a settlement on your behalf
- Comment on an investigation