Canadian securities regulators are kicking off Fraud Prevention Month this March, by encouraging investors to be proactive in preventing investor fraud by checking to see if your investment advisor is registered.
The Canadian Securities Administrators’ (CSA) 2012 Investor Index revealed that 60 per cent of respondents with a financial advisor have never completed any form of background check.
Being an informed investor is the best defence against investment fraud. A simple first step in protecting yourself is checking the registration of any firm or individual selling securities or offering investment advice. You can do this using the National Registration Search.
In terms of investor protection, registration status or category is more important than a title because it tells the investor what types of products or services a firm or individual is qualified to sell or provide advice on.
Registration is designed to help protect investors because Canadian securities regulators register firms and individuals that meet specific qualifications and standards.
To raise awareness around registration, the CSA is encouraging investors to participate in Check Registration Day, March 26, 2013. Here’s how:
- Go to www.securities-administrators.ca and click National Registration Search, to ensure your investment individuals or firms are registered in your jurisdiction.
- Or, contact the BCSC at [email protected] or 1-800-373-6393 to verify registration.
If you discover the person you are dealing with is not registered, contact BCSC Inquiries immediately.
BCSC adds information about Exchange-Traded Funds As we discussed in an Investor Watch from 2009, certain Exchange Traded Funds may not be appropriate for retail investors. Today, we’ve added an advisory from the North American Securities Administrators Association to the ETF page of our website, which discusses the risks and costs associated with this increasingly […]
The Canadian Securities Administrators (CSA) are kicking off Investor Education Month this October by encouraging investors to check the registration of any firm or individual selling securities or offering advice. “Through the registration process, Canadian securities regulators ensure individuals and firms meet specific qualifications and standards before they offer products or advice to investors,” says […]