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The Ontario Securities Commission (OSC) issued a new investor alert this week, concerning a new binary options advertisement scam using Conservative leader candidate and business man Kevin O’Leary.
Several binary options companies have been using O’Leary’s face and acknowledgement in advertisements for their investments and platforms without permission.
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In your life, there are only two ways to make money. You can work for your money or you can make your money work for you through investing. The best way to reach your financial goals is to do both. You’re going to work, but you need to invest too.
Submitted by harrisdc on
The dictionary definition of investing is… “expend money with the expectation of achieving a profit or material result by putting it into financial schemes, shares, or property, or by using it to develop a commercial venture.” That’s quite a mouthful. No one talks like that though, so let’s make things a little simpler.
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As their name suggests the Enforcement Branch's mandate is to enforce securities laws. Any complaint the commission receives from the public is handled by Enforcement. We investigate these complaints and allegations of misconduct in the capital markets. If the allegations are found to be true we can initiate proceedings against the accused. These allegations could include unlicensed trading or advising in securities, non-disclosure, or targeting investors with scams or fraud.
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As we start off a new year, the Before You Invest blog is getting a new start as well. We’ll still be doing periodic posts on new legislation, scams and investment news that Nova Scotians need to know about. We’ll also be getting back to the basics for those new to investing and securities with our new Question of the Week. Every Wednesday we’ll post a new question with the answer from our experts at NSSC. We’ve got the first few questions ready to roll out this month, but we also want to hear from you. What do you want to know more about?
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The Nova Scotia Securities Commission has noticed an increase in solicitations and marketing for investment in binary options (also called “fixed-return options”).
At this time, no binary options trading companies are registered in Canada. These platforms may be engaging in illegal activity.
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To help prevent fraud, we are encouraging the public to research investments when making any investing decisions. We recommend that investors follow these three easy steps:
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Whether you're thinking of investing or already are you need to understand the Fund Facts. This document outlines everything you need to know about your investments from fees to past performance. To help you better understand the Fund Facts we have created three videos with tips.
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By: Lianne Bradshaw, Investigator with the Nova Scotia Securities Commission
