Released on January 18, 2023
The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) warns investors of the online entity Olikriet Capital Limited.
This entity claims to offer Saskatchewan residents an opportunity to invest and trade equities, forex, metals, commodities, contracts for differences, shares, cryptocurrencies, ETFs, options, and indices through the online website https://oliks.com.
"If someone selling investment opportunities is not registered, they are not a safe choice for Saskatchewan residents," FCAA Securities Division Executive Director Dean Murrison said. "Always check if an entity is registered with the FCAA, and whenever possible ask your financial adviser to evaluate every investment opportunity you are considering."
Olikriet Capital Limited is not 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 Olikriet Capital Limited 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 information, contact:
Financial and Consumer Affairs Authority