Canadian Securities Administrators announce March 26 as Check Registration Day

St. John's – March 26, 2013 is Check Registration Day, and the Canadian Securities Administrators (CSA) is encouraging investors to take the time 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.

The CSA has provided investors with a tool, the National Registration Search, that is quick and easy to use.

“Registration is designed to help protect investors because Canadian securities regulators will only register firms and individuals that meet specific qualifications and standards,” said Bill Rice, Chair of the CSA and Chair and CEO of the Alberta Securities Commission. “It’s important for investors to know that they can find some protection by doing a little bit of research into the registration status of those offering them an investment.”

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

The CSA is encouraging investors nationwide to participate in Check Registration Day, March 26, 2013. Here’s how:

• Go to www.aretheyregistered.ca to ensure your investment individuals or firms are registered in your jurisdiction.
• Or, call your local securities regulator to verify registration.

If you discover the person or company you are dealing with is not registered, is offering you something they don’t seem permitted to offer, or if you need help understanding the results within the National Registration Search tool, please contact your local securities regulator.

The CSA, the council of securities regulators of Canada’s provinces and territories, coordinates and harmonizes regulation for the Canadian capital markets. Their mandate is to protect investors from unfair or fraudulent practices through regulation of the securities industry. Part of this protection is educating investors about the risks and responsibilities of investing.