INVESTORS TAKE NOTE: MARCH 26 IS NATIONAL CHECK REGISTRATION DAY

The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) joins the Canadian Securities Administrators (CSA) in encouraging investors to take the time today to complete a simple task - check the registration of any firm or individual selling securities or offering investment advice to you, your friends or family.

“We protect Saskatchewan consumers by regulating financial products and service providers in an effective, efficient and balanced manner,” FCAA CEO Dave Wild said.  “But it’s equally important for individuals to make sure that the people they trust with their money meet national and provincial standards and now we have online tools that make that easier.”

Research from the CSA 2012 Investor Index reveals that 60 per cent of respondents with a financial adviser have never completed any form of background check.  With almost 30 per cent of Canadians believing they have been approached with a fraudulent investment at some point in their life, and with 4.6 per cent believing they have been a victim of investment fraud, Canadians need to carefully choose who they hand their money to.

To participate in Check Registration Day, verify that your investment adviser or firm is registered by:

• Visiting the CSA’s National Registration Search, or 
• Calling the FCAA Registration Office at 306-787-9397.

To find out if your insurance adviser is licensed to sell insurance products like segregated funds:

• Visit www.skcouncil.sk.ca/search/searchhome.htm, or
• Call the Licensing Department of the Insurance Councils of Saskatchewan at 306-347-0862.

FCAA is a member of the CSA, the national council of securities regulators that co-ordinates and harmonizes regulation for the Canadian capital markets to protect investors from unfair or fraudulent practices through regulation of the securities industry.  Part of this protection includes educating investors about the risks and responsibilities of investing.

For more information, please visit www.fcaa.gov.sk.ca or www.securities-administrators.ca.

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For more information, contact:

Daniela Machuca
Financial and Consumer Affairs Authority
Regina
Phone: 306-798-4160

Glenys Wood
Financial and Consumer Affairs
Regina
Phone: 306-787-9397