December 22, 2008
The British Columbia Securities Commission is publishing an Investment Caution List to warn investors about unregistered companies that have contacted B.C. residents to open brokerage accounts, or buy unqualified investments that may not comply with securities laws.
“The BCSC helps protect investors from unsuitable and potentially fraudulent investments through investor education and warnings,” said Brenda Leong, BCSC executive director. “Investors should always know who they are dealing with and research an investment, before they invest. We encourage investors to immediately report any suspicious investment activity to the BCSC.”
Investors need to be particularly careful when dealing with companies located in offshore jurisdictions. Investigating offshore companies can be complicated and can delay enforcement action. In addition, when money is sent offshore, recovery of investor funds is often difficult or impossible.
The Investment Caution List does not identify all unregistered activity or unqualified securities being promoted in the province. In compiling the Investment Caution List, the BCSC relies on information it receives from the public or other agencies.
Investors are also encouraged to visit https://www.investright.org/, the BCSC’s investor education website, before making an investment decision. The InvestRight website is a one-stop resource that provides a wide range of tools that helps investors develop critical thinking skills they need to protect themselves. If you have questions or problems with an investment or a financial advisor, please call 604-899-6854 or 1-800-373-6393.
Check out the InvestRight Blog and join the conversation about investor education.
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When it comes to reporting investment fraud, that is? Well, in British Columbia, your best bet is the BC Securities Commission. Because when it comes to investment fraud, it is often the BCSC that can move rapidly to disrupt, stop and prevent fraud from claiming more victims by ordering a cease-trade in a suspicious investment […]