CSA

Montréal – As the COVID-19 pandemic causes continued uncertainty in the economy and the capital markets, the Canadian Securities Administrators (CSA) has been working to protect and educate investors.

“We understand this is a very difficult time for many Canadians who depend on their investments to meet their current and future financial needs,” said Louis Morisset, CSA and President and CEO of the Autorité des marchés financiers (AMF). “The CSA is committed to protecting investors during COVID-19 through enforcement, education and policy.”

Since the pandemic emerged, the CSA and its members have seen an increase in potentially fraudulent investment schemes. These schemes often appear legitimate because they refer to current news, medical reports and social and political developments. The CSA urges investors to exercise caution with investment solicitations that involve COVID-19.

In response to the impacts of the pandemic, CSA investor focused efforts include:

The CSA encourages investors to review their financial goals in light of changing circumstances, understand the fees and charges that they pay and consider seeking advice from a registered adviser. These discussions should be an ongoing feature of the client-adviser relationship, but are critical to an investor’s well-being during uncertain economic times.

The CSA also encourages investors suffering from financial hardship to talk with their registered firms and advisers about relief options. Investors may also wish to inquire whether fees can be waived on the basis of financial hardship, including Deferred Sales Charges (DSCs).

When considering any new investment, carefully research the opportunity and ensure you read the required disclosure materials. The CSA's website has resources to help you navigate key disclosure documents, such as Fund Facts This link will open in a new window and ETF Facts This link will open in a new window.

OBSI is also available This link will open in a new window to investors. OBSI resolves disputes between investment firms and their clients if they can't solve them on their own. The CSA is renewing its focus on strengthening OBSI as an independent dispute resolution service, in order to secure fair, efficient and conclusive redress for investor losses where warranted. If OBSI finds that a firm has acted unfairly, made an error or given bad advice, and a client lost money as a result, it can recommend that a firm compensate the client. Residents of Québec can also bring related complaints to the AMF

The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.

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For Investor inquiries, please refer to your respective securities regulator. You can contact them here This link will open in a new window.

For media inquiries, please refer to the list of provincial and territorial representatives below or contact us at media@acvm-csa.ca.

For more information:

CSA member name

Point of contact

Phone number

Autorité des marchés financiers

Sylvain Théberge

514-940-2176

Alberta Securities Commission

Hilary McMeekin

403-592-8186

British Columbia Securities Commission

Brian Kladko

604-899-6713

Financial and Consumer Affairs, Authority of Saskatchewan

Shannon McMillan

306-798-4160

Financial and Consumer Services Commission, New Brunswick

Sara Wilson

506-643-7045

Government of Prince Edward Island, Superintendent of Securities

Steve Dowling

902-368-4550

Manitoba Securities Commission

Jason (Jay) Booth

204-945-1660

Nova Scotia Securities Commission

David Harrison

902-424-8586

Nunavut Securities Office

Jeff Mason

867-975-6591

Office of the Superintendent of Securities, Newfoundland and Labrador

Renée Dyer

709-729-4909

Office of the Superintendent of Securities, Northwest Territories

Tom Hall

867-767-9305

Office of the Yukon, Superintendent of Securities

Rhonda Horte

867-667-5466

Ontario Securities Commission

Kristen Rose

416-593-2336