March is Fraud Prevention Month

Submitted by nsscadmin on Mon, 03/01/2021 - 10:00

March is Fraud Prevention Month!

Can you spot the red flags of investment fraud? The Nova Scotia Securities Commission will be premiering a new fraud prevention video series on our YouTube Channel throughout March. Each video in the series will include a scenario that could potentially be investment fraud. In each scenario the red flags of investment will be examined to teach investors how to spot fraud and avoid it to protect themselves and their money. Watch for a new video every Friday throughout the month.

Throughout March the Commission’s social channels on Twitter and LinkedIn will be sharing fraud prevention information, tips, videos and facts. Learn about the red flags of fraud, some famous fraudsters like Ponzi and Madoff, a few “DON’Ts” to protect yourself, and how some of the most common types of investment fraud work.

The Commission will also be virtually visiting high schools and universities in the province to talk to students about securities regulation, investing, fraud and more. To learn more about this program watch this short video on our Student Connections Program.

Follow the hashtag FPM2021 to find our content and other fraud prevention content from securities regulators, law enforcement, fraud centres, financial institutions and more.

Failure to file annual financial statements.
Failure to file interim financial statements.
Failure to file an annual or interim management’s discussion and analysis (MD&A) or an annual or interim management report of fund performance (MRFP).
Failure to file an Annual Information Form (AIF).
Failure to file a certification of annual or interim filings required by Multilateral Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings (MI 52-109).
Failure to file required proxy materials or a required information circular.
Failure to file an issuer profile supplement on the System for Electronic Disclosure by Insiders (SEDI).
Failure to file a material change report.
Failure to provide a written update after filing a confidential report of a material change.
Failure to file a business acquisition report.
Failure to file annual oil and gas disclosure prescribed by National Instrument 51-101 Standards of Disclosure of Oil and Gas Activities (NI 51-101) or technical reports for a mineral project required under NI 43-101 Standards of Disclosure for Mineral Projects (NI 43-101).
Failure to file a mandatory news release.
Failure to file corporate governance disclosure as required by national Instrument 58-101 Disclosure of Corporate Governance Practices (NI 58-101).
Failure to file audit committee disclosure as required by Multilateral Instrument 52-110 Audit Committees (MI 52-110) or BC Instrument 52-509 Audit Committees.
Failure to include disclosure in an issuer’s MD&A relating to disclosure controls and procedures and their direct effectiveness that is referred to in a certificate filed under MI 52-109.
Financial statements of the reporting issuer, or the auditors’ report accompanying the financial statements, do not comply with the requirements of NI 51-102 Continuous Disclosure Obligations (NI 51-102), National Instrument 81-106 Investment Fund Continuous Disclosure (NI 81-106) or National Instrument 52-107 Acceptable Accounting Principles, Auditing Standards and Reporting Currency (NI 52-107).
The reporting issuer has acknowledged that its financial statements, or the auditors’ report accompanying the financial statements, may no longer be relied upon.
The reporting issuer’s AIF, MD&A, MRFP, information circular, or business acquisition reports do not contain information for each of the content items required by NI 51-102 or NI 81-106.
The reporting issuer’s technical disclosure or other reports do not comply with the disclosure requirements of NI 43-101 or 51-101.
Failure to pay a fee required by the Act or the regulations.
Failure to comply with any other requirement related to continuous disclosure.