Be an informed investor - Don't be fooled by fraudsters misrepresenting themselves.
March 24, 2022 (Toronto, Ontario) – The Investment Industry Regulatory Organization of Canada (IIROC) is warning Canadian investors not to be fooled by Ontario Invest.
Through their website https://ontarioinvest.com, Ontario Invest falsely claims to be an IIROC-regulated crypto-asset management and investment company and a registered representative of RBC Direct Investing Inc. Ontario Invest is not an IIROC-regulated investment dealer and not associated with RBC Direct Investing Inc or any other IIROC-regulated firm.
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.
IIROC also does not play a role in approving withdrawals from investor accounts. Any company asking for payment or to increase the amount on deposit with them before approving a withdrawal is likely fraudulent. Learn more about red flags with IIROC's Tips to Spot and Prevent Fraud.
Canadian investors should always 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.
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.