Investor Alert: Cryptlogger

Type: Media Release> General

Contact:

Sean Hamilton
Director, Public Affairs and Member Education Services
Telephone:
Email:

Be an informed investor - don't be fooled by fraudsters misrepresenting themselves

August 13, 2021 (Toronto, Ontario) – The Investment Industry Regulatory Organization of Canada (IIROC) is warning Canadian investors that Cryptlogger is not regulated by IIROC.

Through their website https://cryptlogger.com, the company falsely claims to be an IIROC-regulated crypto-asset management and investment company.

IIROC-regulated investment firms and individuals must meet our high standards and deal fairly, honestly and in good faith with Canadian investors. We urge Canadian investors to exercise caution when dealing with non-IIROC-regulated firms.

Certain crypto assets have generated a lot of hype. All investors must be informed and ask themselves important questions before purchasing higher-risk investment products that do not trade on stock exchanges.

Investors should know that crypto-asset trading platforms, even if they call themselves an exchange, are not the same as regulated marketplaces and may be missing key investor protections. IIROC is working with the Canadian Securities Administrators to ensure that the regulation of crypto-asset trading platforms is flexible and facilitates innovation but also upholds our mandate for investor protection and market integrity.

Investors can confirm investment firms are IIROC-regulated.

Investors can also check the background, qualifications and any disciplinary history of investment advisors registered with IIROC by checking the free IIROC AdvisorReport.

The Canadian Securities Administrators provide investor alerts.

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About IIROC:

IIROC is the pan-Canadian self-regulatory organization that oversees all investment dealers and their trading activity in Canada’s debt and equity markets. IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while supporting healthy Canadian capital markets. IIROC carries out its regulatory responsibilities through setting and enforcing rules regarding the proficiency, business and financial conduct of 175 Canadian investment dealer firms of varying sizes and business models, and their more than 30,000 registered employees. IIROC also sets and enforces market integrity rules regarding trading activity on Canadian debt and equity marketplaces.

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