REGINA — The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) warns investors of the online entity SQB.
"We continue to encourage investors to verify that entities selling investment opportunities are registered as required by legislation," says Dean Murrison, executive director of the Securities Division with the FCAA. "Registration status can be easily checked through the Canadian Securities Administrators' database at aretheyregistered.ca."
SQB claims to offer Saskatchewan residents an opportunity to invest in cryptocurrencies and contracts for difference (CFDs) through the website https:// www sqbank ai (this url has been altered so as not to be interactive).
SQB 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 SQB 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' .
- 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.
