Protecting seniors: Investor education presentations & Fraud Bingo

Submitted by nsscadmin on Wed, 06/05/2024 - 09:00

Part of the Nova Scotia Securities Commission’s (NSSC) mandate is to help protect Nova Scotians from fraudulent investments and assist them in making informed investment decisions by delivering investor education content and resources.

During Seniors’ Month (June 2024) the NSSC will share content on financial elder abuse, investment fraud, and securities laws around trusted contact persons and temporary holds that are relevant to seniors and their families.

NSSC staff are also available to deliver educational presentations to seniors’ organizations and seniors’ living facilities and play “Fraud Bingo,” an interactive Bingo game that teaches fraud prevention.

NSSC staff can speak on several topics including:

· Working with an investment adviser

· Basic investments

· Protect yourself from investment fraud and scams

· Recognizing financial elder abuse

· Crypto assets and securities regulation

“Fraud Bingo” is a fun program that was developed by the North American Securities Administrators Association (NASAA) to make learning about fraud prevention more fun and engaging. Fraud Bingo players have a chance to win small prizes while learning about investment fraud prevention. It takes a regular bingo game and changes BINGO to FRAUD. All FRAUD numbers called include fraud prevention tips and information. Here is a look at a sample Fraud Bingo card.

Seniors’ month may be in June, but we can make ourselves available year-round to talk to groups of any size. This can be done in-person, or online on whichever platform the group is most comfortable using.

If you would like more information on presentations, Fraud Bingo, or are interested in scheduling a presentation or Fraud Bingo with your organization, please contact us.

You can also find investor education materials developed for seniors and their families on our website - https://nssc.novascotia.ca/seniors and on our YouTube channel.

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.