Canadian Regulator Alerts Investors to Scammers Impersonating CSA

The Canadian Securities Administrators (CSA) has issued an investor alert, cautioning the public about fraudulent documentation circulating via email that misuses CSA branding and the names of its executives. The scheme promises to recover funds lost to previous fraudulent activities but demands upfront fees from victims.

According to the CSA, multiple individuals have reported receiving these misleading documents. The regulatory body has urged Canadians to remain vigilant against unsolicited communications, including those featuring CSA branding. Fraudsters often target individuals who have recently suffered financial losses, offering to retrieve their funds in exchange for a fee or personal information.

The CSA has reiterated neither the CSA nor its members will ever:

• Ask investors to send money anywhere at any time.  
• Promote any kind of investment opportunity or company.
• Promote companies or entities offering to recover funds that have been scammed.
• Make unsolicited phone calls or send unsolicited emails or text messages to investors asking for payments related to enforcement actions or investigations.

The CSA advises anyone who receives suspicious messages purporting to be from its staff or members to contact their local securities regulator directly for verification. Investors should refrain from replying to these messages or using the contact details provided in suspicious communications.