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 from NBSC enforcement staff.
On May 14, the Autorité des marchés financiers (AMF) warned Quebec residents about a Cyprus-based website (anyoption.com ) that provides a trading platform for options. The AMF received a complaint from an investor who traded through the website, which is not registered with the AMF. In addition, the site does not rely on any exemption that would allow it to solicit Québec residents.
The AMF also issued an Investor Alert in early June warning people about solicitations made by Simon Vodovos through websites and online ads encouraging them to invest in Vilaron Corporation, which purports to be an investment fund manager. Vilaron Corporation and Simon Vodovos are not registered with the AMF, and as such, they are not authorized to solicit Québec residents for investment purposes. The AMF is seeking orders and penalties against Vodovos and Vilaron Corporation.
We urge British Columbians to exercise caution when dealing with firms that are not registered to trade or advise in B.C. If you are approached by a person or company that is not registered in B.C. to trade in, or advise on, securities and exchange contracts, or if you need help understanding the results of the National Registration Search tool, please contact us at 1-800-373-6393 or e-mail [email protected].
Be Wary of speculative energy investments
With investments in traditional and alternative energy resources gaining more popularity, the North American Securities Administrators Association (the BCSC is a member) issued an advisory on the subject.
The advisory explains the most common energy investment products, why people should be cautious when considering these types of investments, and what investors can do to protect themselves when considering investing in traditional or alternative energy offerings.
You can find the full advisory on the NASAA website.
Research shows that just under half of Canadians have a financial advisor. If you rent your home, or have more debt than savings you’re less likely to have an investment advisor. By comparison, if you have a family, are female, or older than 65 then you’re more likely to have an advisor. Being the government […]