You may have noticed your e-mail inbox filling up with consent forms from companies and organizations that are conforming to the federal government’s new anti-spam legislation, which came into effect on July 1, 2014.

This legislation, known as the Canadian Anti-Spam Legislation (CASL), aims to protect consumers from spam and online threats.

What this means is that you are receiving many emails from subscriptions that you previously signed up for, asking for your consent to keep you as a subscriber.

As this happens, it is important to stay conscious of the type of information that you would like to continue to receive as well as who is sending it. 

Always carefully read these emails and ensure you know who is sending them before you confirm a subscription so that none of your information falls into unscrupulous hands. 

You should also continue to be on the lookout for stock spam or suspicious investment solicitations.

Here are a few characteristics of investment or stock spam to look out for:

  • Overly promotional language that suggests a stock is the “next big thing” or “it is going to the top of the charts” 
  • Investment promotions that exhibit one or more of the Fraud Warning Signs, like guaranteeing a high-return, no-risk investment. 
  • Promises of insider information on companies or hot stock tips

As annoying as it may be to confirm or deny these subscription requests, CASL does provide Canadians with a legal framework and a Spam Reporting Centre to pursue violators if they believe they have been victimized.

BC residents should also report stock or investment promotions they receive via e-mail to BCSC inquires at 1-800-373-6393 or [email protected].

 

Suggested Reading

Regulators adopt amendments to improve scholarship plan disclosure

BC Securities Enforcement Roundup – April 2013

Financial Exploitation: Empowering BC Seniors

More Resources

In your community this month – October 2011

  BCSC staff ambassadors tour the province, helping people to protect themselves from fraud and unsuitable investments. Our goal is to enable BC investors to develop critical thinking skills so they can become more informed of steps they should take to protect themselves when investing.   Where we are this month    Vernon  InvestRight seminar […]

Spot Investment Scams: Fraud Among Friends & Family

Many people turn to those they trust as sources of information when it comes to investing. Be careful, the ones you trust and respect don’t always have the right answers. An investment scam that targets a close-knit group (families, religious groups, clubs, etc.) is known as an affinity fraud. Scam artists take advantage of the […]