Investor Alert: eTrade Markets

Type: Media Release> General

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Stephanie Teodoridis
Senior Public Affairs and Corporate Communications Specialist
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Be an informed investor - Don't be fooled by fraudsters misrepresenting themselves

September 2, 2022 (Toronto, Ontario) – The Investment Industry Regulatory Organization of Canada (IIROC) is warning Canadian investors not to be fooled by eTrade Markets.

The company falsely implies IIROC and OSC regulation by using altered/fraudulent documents to solicit investors.

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 are not the same as regulated marketplaces and may be missing key investor protections.

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.

Investors can confirm investment firms are registered with IIROC or with the CSA.

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

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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 174 Canadian investment dealer firms of varying sizes and business models, and their more than 31,000 registered employees. IIROC also sets and enforces market integrity rules regarding trading activity on Canadian debt and equity marketplaces. For more information, visit www.iiroc.ca.

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MFDA and IIROC have consolidated

As of January 1, 2023 the MFDA and IIROC have come together as New Self-Regulatory Organization of Canada (New SRO).

New SRO has assumed the regulatory responsibilities of the MFDA and IIROC.

We have set up an interim website for updates and information related to the New SRO including:

  • Executive Management
  • Governance
  • New SRO Rules
  • Member Application
  • Investor Office and the Investor Advisory Panel
  • Information concerning mutual fund dealers registered in Québec
  • Complaints
  • Careers

Enforcement proceedings, membership lists, continuing education, investor education resources and any other information not set out above continue to reside on www.mfda.ca and www.iiroc.ca.