Be an informed investor - Don't be fooled by fraudsters

TORONTO, Aug. 1, 2024 /CNW/ - The Canadian Investment Regulatory Organization (CIRO) is issuing a warning to Canadian investors regarding Wealth-PAL. This entity is falsely claiming affiliations and regulatory endorsements it does not possess.

In documents distributed to investors, Wealth-PAL falsely claims being regulated by the Investment Industry Regulatory Organization of Canada (IIROC) - a predecessor of CIRO.

Investors should be aware that Wealth-PAL is not a member of CIRO or IIROC, and is not authorized to use their logos or imply any form of regulatory endorsement.

CIRO's Office of the Investor publishes information to help investors keep their investments safe and avoid fraud. Such information is available at Avoiding Fraud and Protecting Your Investments.

Investors should also check the background, qualifications and any disciplinary history of investment advisors and firms registered with CIRO or the CSA by checking the free Advisor Report for advisors registered with investment dealers, or the CSA's National Registrant Search.

If you believe you have been a victim of this or a similar scam, immediately contact your bank, local police, your provincial securities commission, and the Canadian Anti-Fraud Centre.

Please direct all other inquiries to our Complaints & Inquiries team: 
1-877-442-4322 (Canada/US), 
800-5555-2323 (Outside Canada/US), 
or by completing our Secure Contact Form.

About CIRO

Canadian Investment Regulatory Organization is the national self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada's debt and equity marketplaces. CIRO is committed to the protection of investors, providing efficient and consistent regulation, and building Canadians' trust in financial regulation and the people managing their investments. For more information, visit CIRO.ca.

SOURCE Canadian Investment Regulatory Organization (CIRO)