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].
Before choosing a financial advisor or purchasing an investment, it is important to do a background check. Checking registration helps to protect investors because it confirms if the person or firm you are working with can sell investments or offer investment advice. To check whether the financial advisor you are considering working with is registered, […]
In June and July, the New Brunswick and Ontario Securities Commissions warned people not to invest with EquityStar Momentum Growth Fund after residents in both provinces received e-mails about an investment opportunity. EquityStar Momentum Growth Fund is not registered to sell securities in either province, and it did not respond to demands for more information […]