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March is Fraud Prevention Month. It’s important to always be on guard against investment fraud, and the fraudsters looking to steal your hard-earned money.
In this issue of Investor News, we've put together tips on how you can protect yourself against investment fraud. You can also follow us on Facebook or Twitter for more investment fraud prevention tips or visit our website, GetSmarterAboutMoney.ca.
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Recognize, Reject and Report Fraud
Most investment fraudsters will make themselves out to be financial experts or someone offering a once-in-a-lifetime opportunity. They will try to gain your trust before asking you for money. A fraudster may approach you online, by phone or even through a group or organization that you belong to.
Investment fraud is easier to recognize when you know what to look for. Remember these 4 red flags of investment fraud as well as these 4 ways to avoid investment scams.
If you suspect investment fraud or if you are unsure that the person or business you are dealing with is legitimate, you can contact the Ontario Securities Commission. We're here to help.
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Fraud Prevention Month
The Ontario Securities Commission's (OSC) Investor Office participated at the Toronto Police Service's Financial Crimes Unit kick-off event for Fraud Prevention Month. Investor Office Director Tyler Fleming shared tips on how people can recognize and avoid investment fraud. Visit GetSmarterAboutMoney.ca to find out how you can protect yourself against investment fraud.
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Whistleblower Program
The OSC recently announced that it awarded $7,499,000 to three whistleblowers on separate matters. These individuals voluntarily provided high quality, timely, specific and credible information, which helped advance enforcement actions resulting in monetary payments to the OSC. These whistleblower awards are the first ever by a Canadian securities regulator.
Learn more about the OSC’s Whistleblower Program by reading our interview with two staff at the Office of the Whistleblower, André Moniz, Manager, and Shaifali Joshi-Clark, Senior Forensic Accountant.
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GetSmarterAboutCrypto.ca is an educational resource created by the OSC's Investor Office to provide investors with an overview of cryptoasset products and services, the OSC’s role in regulating them, and tips for exercising due diligence before considering this type of investment. Learn more
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Get Your Savings Back on Track
Whether it's a job loss, a significant decline in your investments, or a large, unexpected expense, financial setbacks can happen. If it happens to you, saving money may be the last thing on your mind. But following these 4 steps can help get you back on track — and back to saving money — more quickly.
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Twitter Chat
The Investor Office will be holding a Twitter chat on March 6, 2019 at 1pm ET. We'll be joined by our special guests to talk about ways to recognize, reject and report fraud. We'll be using the hashtag #FraudChat. Follow us at @smarter_money
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Check Before You Invest
Think you can spot investment fraud? It's never this easy.
Always check the registration of any person or business trying to sell you an investment or give you investment advice. Registration helps protect you from unqualified or fraudulent individuals. Visit CheckBeforeYouInvest.ca
Watch our Check Before You Invest animation series about the importance of checking registration.
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Inflation
Simply put, inflation is the rate at which the prices of goods and services increase over time. Inflation relates to the “purchasing power” of money – meaning the same amount of money will buy fewer goods and services over time.
Inflation risk is the risk that your purchasing power will be reduced if the value of your investments does not keep up with inflation. Inflation risk is particularly relevant if you own cash or debt investments like bonds. Stocks offer some protection against inflation because most companies can increase the prices that they charge to their customers. Learn more
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Scholarship Plan: Interactive Sample
Group Registered Education Savings Plans (Group RESPs) are sold only by scholarship plan dealers. Each group plan is different and has its own rules. It’s important to read and understand these rules which are described in the plan’s prospectus — a legal document that describes how the plan works. The prospectus also includes a short Plan Summary which tells you some key things about investing in the plan.
Use our new Scholarship Plan: Interactive Sample tool to help understand key sections of this document. Remember, a Plan Summary may not contain all the information you want. You should read the entire prospectus carefully before you decide to invest.
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New Commissioners
The OSC recently announced the appointment of Mary Anne De Monte-Whelan and Heather Zordel to the Commission. These Commissioners will each serve a two-year term. Learn more
The Commission has two related but independent roles. It serves as the Board of Directors of the OSC and performs a regulatory function, which includes making rules and policies and adjudicating administrative proceedings.
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Roundtable on Reducing Regulatory Burden
Registration is now open for the first public roundtable on March 27, 2019, which will include remarks by the Ontario Minister of Finance, the Honourable Vic Fedeli. The roundtable will consider regulatory burden and its impact, how to measure, set priorities and maximize the impact of burden reduction initiatives, and high-level themes important to burden reduction that emerged in the comment period. Learn more
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Always know the 10 most recent OSC investor warnings and alerts by bookmarking this Fact Card or embedding it on your website or blog.
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International Commodities Group
The OSC is warning investors that International Commodities Group (ICG) is not registered to sell securities in Ontario. Learn More
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Affiliated Trade Group
The OSC is warning investors that the company Affiliated Trade Group and its representatives are not registered in Ontario to solicit investments or provide advice on investing in, buying, or selling securities. Learn More
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Investor Office Telephone Townhall
March 27, 2019
Telephone townhalls are a way for the Investor Office to connect with thousands of Ontarians at a time, in the comfort of their own home. Telephone townhalls work much like a call-in radio show where OSC staff provide information, answer questions and conduct live polls over the course of one hour.
The next telephone townhall is being held as part of Fraud Prevention Month.
Free registration
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OSC in the Community
OSC staff are taking the Commission's regulatory mandate from Bay Street to Main Street with seminars on preventing fraud and making informed investment decisions.
- March 6, 2019 - Toronto (Etobicoke)
- March 11, 2019 - Toronto (Downtown)
- March 13, 2019 - Stratford
- March 14, 2019 - Ajax
- March 21, 2019 - Mississauga
- March 30, 2019 - Toronto (Scarborough)
Learn More
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