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.
July 7, 2006 What are PPNs? A principal protected note, or PPN, is an investment product that consists of two parts. One part is an investment that promises to return to you the original amount you invest in the PPN, usually after a six to ten year period. A third party, called the guarantor, […]
In your community this month 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 Victoria […]