Released on November 23, 2022
The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) warns investors of the online entities the Investment Center and Investment Center Holdings Int'l and of their website, www.investmentcenter.finance.
"Residents are urged to pay attention to all details when vetting an investment opportunity," Executive Director of the Securities Division with the FCAA Dean Murrison said. "In this case, unregistered entities are posing as an existing investment firm to entice Saskatchewan investors."
These entities have contacted a resident of Saskatchewan under false pretenses, by masquerading as the legitimate firm The Investment Center, Inc., which is registered with SEC and FINRA.
Neither the Investment Center nor Investment Center Holdings Int'l are registered to trade or sell securities or derivatives in Saskatchewan. 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 the Investment Center or Investment Center Holdings Int'l or anyone claiming to be acting on their behalf, contact the FCAA's Securities Division at 306-787-5936.
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 that their businesses are financially stable.
Tips to protect yourself:
- Always verify that the person or company is registered to sell or advise about securities or derivatives. To check registration, visit The Canadian Securities Administrators' National Registration Search.
- 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.
For more investor protection information visit: https://fcaa.gov.sk.ca/consumers-investors-pension-plan-members/investors
For more information, contact:Margherita Vittorelli
Financial and Consumer Affairs Authority