Page 21 - 2013_2014 NASAA report

NASAA Member Activity | Canada
NASAA Activity Report 13-14.indd
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Manitoba Securities Commission
In 2013, the Commission (MSC) and Winnipeg Police Service teamed up to
help Manitobas professionals recognize investment fraud with a pair of pop-up
events in downtown Winnipeg. Tese events aimed to get investors talking about
where and how investment scams can happen, and marked the launch of the MSCs
RecognizeInvestmentFraud.ca website and educational campaign. Between the two
events, more than 3,000 information packages were handed out, and trafc to the
RecognizeInvestmentFraud.ca site spiked by more than 4,000 pageviews, all of which
were boosted thanks to a successful outdoor media campaign, as well as radio and online
ads that promoted listeners and viewers to learn the red fags of investment fraud.
New Brunswick Financial & Consumer Services Commission
Te Commission has a new name and expanded mandate. Te Financial and Consumer
Services Commission (FCNB) was created in July 2013 when the provincial government
brought together the regulators of insurance, pension, consumer afairs, fnancial
institutions and securities into one independent, self-funded entity. Te FCNB has
created a new web resource to make it easier for New Brunswickers to fnd answers to
fnancial and consumer questions and provide them with information to protect them
from fraud and to make informed fnancial decisions. Te FCNB also launched its frst
public awareness campaign focused on each of the sectors that it regulates.
Newfoundland & Labrador Financial Services Regulation Division
Te Division uncovered evidence that a frm allegedly located in Zurich, Switzerland,
unlawfully traded securities and solicited residents to invest in the foreign exchange
market, known as forex, and other securities. Neither these entities nor its agent were
registered to solicit or trade in securities in this jurisdiction. Te agent used radio
infomericals in Newfoundland and Labrador and at least one other province in Canada
to solicit residents to invest money though ofshore wire transfers to the United
Kingdom. Investigators believe that the funds were then transferred to other countries.
Te Superintendent of Securities issued a permanent Cease Trade Order prohibiting
the accused entities and its agent from acting, advertising, soliciting, conducting or
negotiating directly or indirectly in furtherance of the trade of securities in the province.
Northwest Territories Office of the Superintendent of Securities
Te primary mandate of the Ofce is to protect the investing public. Te Ofce serves
as a gatekeeper for frms and their representatives wishing to sell securities to the public.
In addition, the Ofce reviews prospectuses and applications for exemptive relief, takes
enforcement action against persons and companies who have violated securities laws
and provides various services to the public, such as: the fling of disclosure documents;
the registration of dealers, advisers and representatives of securities; and responding to
investor complaints and providing investor education.
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