Submitted by nsscadmin on
The principal mandate of the Nova Scotia Securities Commission (NSSC) is to protect Nova Scotia investors. One of the ways we do that is by issuing investor alerts and cautions. You can find all the alerts we’ve issued for the last eight years on our Investor Alert Database.
To create further awareness concerning the companies and people we have issued alerts and cautions about, our Before You Invest Blog does regular reviews of alerts throughout the year.
The review looks back at all the alerts and cautions we issued between January and March.
Canadian securities regulators warn registrants about impersonation scam
The Canadian Securities Administrators (CSA) is warning registrants of an email impersonating CSA Chair and Chair and CEO of the Alberta Securities Commission, Stan Magidson. The emails are believed to be malicious “spear phishing” attempts by unknown individuals who are trying to obtain personal information or confidential business information.
Canadians urged to remain vigilant in the face of rising investment fraud
To mark Fraud Prevention Month, the CSA reminded Canadians to remain vigilant about potential investment scams and misleading advice. While online financial advice is readily available, the CSA encourages investors to verify information sources and work with registered professionals to reduce the risk of becoming victims of fraud.
Nova Scotians continue to lose considerable amounts of money to fraudulent crypto trading websites. The Nova Scotia Securities Commission has issued several warnings about fraudulent crypto trading websites and the red flags of crypto-related fraud. For Fraud Prevention Month in March, the Commission used a new investor education tactic by launching its own fake crypto trading website – NovaCrypto.ca.
The Canadian Securities Administrators, the Canadian Investment Regulatory Organization, and the Ombudsman for Banking Services and Investments reminded investors that they all offer investors services related to claims or complaints free of charge. This means it is not necessary for investors to use a claims management company to interact with a regulator or oversight organization in a claim or complaint process
Investor Cautions issued by NSSC
Investor Cautions are warnings to potential investors that the individuals or entities named do not appear to be registered to engage in the business of offering securities or derivatives in Nova Scotia or that the investment products do not appear to be offered in a manner permitted by Nova Scotia securities laws. Visit our Investor Cautions List for more information on the entities listed below.
Trade Galactica
Invictet
necosmart
Meta Bank Wallet/Meta Bank
Reltex Group/Reltex group
Mayrsson TG