REGINA — The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) warns investors in Saskatchewan of the online entity Stanford Market.
"Investors should exercise extreme caution when dealing with unregistered entities," FCAA Securities Division Executive Director Dean Murrison said. "You can confirm you are dealing with a reputable organization by verifying registration status through The Canadian Securities Administrators' National Registration Search at ."
Stanford Market claims to offer Saskatchewan residents trading opportunities, including cryptocurrencies, stocks, forex, commodities, indices and contracts for difference (CFDs).
Stanford Market 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 Stanford Market 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 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' .
- 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.
