Securities regulators urge Canadians to help prevent financial abuse of seniors


Calgary – Securities regulators across the country are urging Canadians to be aware of and report financial abuse involving seniors as part of World Elder Abuse Awareness Day on June 15.

The Canadian Securities Administrators (CSA) is one of many organizations recognizing and supporting the international effort against elder abuse in all of its forms, including the underrecognized and under-reported form of elder abuse - financial fraud.

Elder abuse involving investments or securities can occur in a number of ways:

  • an investment offered to a senior that is fraudulent or simply unsuitable for the senior’s risk tolerance;
  • theft of funds by those in a position of trust; or
  • aggressive sales tactics used by sales representatives.

“While anyone can be a victim of investment fraud or an unsuitable investment, seniors have less time to recover from a financial loss,” said Jean St-Gelais, CSA Chair and President and Chief Executive Officer of the Autorité des marchés financiers (Québec). “That’s why the CSA provides Canadians with resources to help seniors learn how to make informed investment decisions and avoid investment fraud.”

Whether you are a senior, a family member or a caregiver you can take action and prevent financial abuse of elders:

  • Have a conversation about financial matters with your family or someone you trust. Talk with each other about prevention and protection from investment fraud including ways to be prepared in advance for the possibility of being approached with a scam;
  • Take time to investigate every investment opportunity or sales pitch as well as the person promoting the investment before handing over money. If unsure about an investment, consider seeking out independent, third party advice; and
  • Learn to recognize and avoid investment scams. Visit the CSA’s website ( This link will open in a new window) to find important information and helpful resources about fraud prevention.

Specific CSA fraud prevention resources for seniors include:

The CSA also reminds anyone who suspects or knows of an investment fraud to report it to their provincial or territorial securities regulator This link will open in a new window. Reporting potential scams may help prevent other seniors from becoming victims of investment fraud.

World Elder Abuse Awareness Day was spearheaded by the International Network for the Prevention of Elder Abuse in 2006 and is recognized by thousands of international organizations and communities around the world. For more information, visit This link will open in a new window.

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

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For more information:

CSA member name

Point of contact

Phone number

Autorité des marchés financiers

Sylvain Théberge


Alberta Securities Commission

Lorinda Brinton


British Columbia Securities Commission

Brenda Lea Brown


Financial Services Regulation Div. Newfoundland and Labrador

Doug Connolly


Manitoba Securities Commission

Ainsley Cunningham


New Brunswick Securities Commission

Wendy Connors-Beckett


Nova Scotia Securities Commission

Natalie MacLellan


Nunavut Securities Office

Louis Arki


Office of the Attorney General, Prince Edward Island

Linda Peters


Ontario Securities Commission

Robert Merrick


Saskatchewan Financial Services Commission

Barbara Shourounis


Securities Office, Northwest Territories

Donn MacDougall


Yukon Securities Office

Fred Pretorius