REGINA — The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) warns investors in Saskatchewan of three online entities.
FCAA reports AmCan, Lova Crypto and CGWise and Capitals-gain require scrutiny by investors.
AmCan claims to offer Saskatchewan residents investment in real estate, trusts, investment immigration and other wealth management products, financial planning, wealth management, investment consulting, fund management, asset management and risk management.
AmCan claims to have an office located at 415- Wellman Cres. Saskatoon, which is not true.
AmCan is not registered in Saskatchewan to trade or sell securities or derivatives.
Lova Crypto and CGWise claim to offer Saskatchewan residents trading opportunities, including cryptocurrencies and forex.
Neither Lova Crypto nor CGWise is registered to trade or sell securities or derivatives in Saskatchewan.
Capitals-gain claims to offer Saskatchewan residents trading opportunities, including cryptocurrencies, stocks, forex, commodities, indices and contracts for difference (CFDs).
Capitals-gain is not registered in Saskatchewan to trade or sell securities or derivatives.
The FCAA cautions investors and consumers not to send money to companies that are not registered in Saskatchewan, as they may not be legitimate businesses.
If you have invested with any of these brokers or anyone claiming to be acting on their behalf, contact the FCAA's Securities Division at 306-787-5936.
"Use caution when investing with entities that are not registered to sell securities or derivatives in Saskatchewan," FCAA Securities Division Executive Director Dean Murrison said.
"Protect your investments by confirming registration status through The Canadian Securities Administrators' National Registration Search at ."
In Saskatchewan, individuals or companies need to be registered with the FCAA to trade or sell securities or derivatives. The registration provisions of The Securities Act, 1988, and accompanying regulations are intended to ensure that only honest and knowledgeable people are registered to sell securities and derivatives and that their businesses are financially stable.
Tips to protect yourself:
- Always verify that the person or company is registered in Saskatchewan to sell or advise about securities or derivatives. To check registration, visit The Canadian Securities Administrators' National Registration Search at .
- Know exactly what you are investing in. Make sure you understand how the investment, product, or service works.
- Get a second opinion and seek professional advice about the investment.
- Do not allow unknown or unverified individuals to remotely access your computer.
