The Canadian Securities Administrators (CSA) today published key findings of recently completed reviews of issuers’ COVID-19 disclosure. Guidance and disclosure examples have been provided to assist issuers with reporting on the impacts of COVID-19 to their business and operations.   
“We are encouraged by the overall quality of disclosures issuers provided,” said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. “However, there were some instances where issuers did not provide sufficient detail related to the current and expected impact of COVID-19 on their operations and financial condition, including liquidity and capital resources. It is important that issuers review this guidance closely so that they provide transparent and balanced disclosure.”
A majority of issuers reviewed provided detailed, quality disclosure. This included affected issuers significantly expanding their Management Discussion and Analysis section (MD&A) to explain the impact of COVID-19 to their industry, operations, customers and suppliers. Most issuers also adequately disclosed impairments of non-financial assets in light of deterioration in their business since the onset of the COVID-19 pandemic. 
CSA staff identified some areas where disclosure could be improved, including issuers needing to provide more discussion of entity-specific measures taken to reduce the COVID-19 impact on their business. The review also revealed instances where issuers provided unbalanced or overly promotional disclosure, as well as isolated instances of non-compliance of non-GAAP measures and forward-looking information. 
CSA staff reviewed the continuous disclosure filings of approximately 90 issuers across a broad spectrum of industries and size of operations, focusing on the disclosures of the most recent reporting period ending September 30, 2020. As a result of the reviews, some issuers required no action, while other issuers were requested to make prospective disclosure enhancements. 
The CSA will continue to closely monitor issuers’ continuous disclosure filings in relation to the impact of the COVID-19 pandemic, as part of the CSA’s ongoing continuous disclosure review program.  Further regulatory guidance to assist issuers with their COVID-19 disclosure can be found on the CSA COVID-19 Information Hub.
CSA Notice 51-362 Staff Review of COVID-19 Disclosures and Guide for Disclosure Improvements is available on CSA members’ websites. 
The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.
For media inquiries, please contact:
For Investor inquiries, please refer to your respective securities regulator. You can contact them here. 
For inquiries from market participants (issuers and registrants, or their representatives), please refer to the list of subject matter experts at the end of the CSA Staff Notice.

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The Canadian Securities Administrators (CSA) today published key findings of recently completed reviews of issuers’ COVID-19 disclosure. Guidance and disclosure examples have been provided to assist issuers with reporting on the impacts of COVID-19 to their business and operations.   
“We are encouraged by the overall quality of disclosures issuers provided,” said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. “However, there were some instances where issuers did not provide sufficient detail related to the current and expected impact of COVID-19 on their operations and financial condition, including liquidity and capital resources. It is important that issuers review this guidance closely so that they provide transparent and balanced disclosure.”
A majority of issuers reviewed provided detailed, quality disclosure. This included affected issuers significantly expanding their Management Discussion and Analysis section (MD&A) to explain the impact of COVID-19 to their industry, operations, customers and suppliers. Most issuers also adequately disclosed impairments of non-financial assets in light of deterioration in their business since the onset of the COVID-19 pandemic. 
CSA staff identified some areas where disclosure could be improved, including issuers needing to provide more discussion of entity-specific measures taken to reduce the COVID-19 impact on their business. The review also revealed instances where issuers provided unbalanced or overly promotional disclosure, as well as isolated instances of non-compliance of non-GAAP measures and forward-looking information. 
CSA staff reviewed the continuous disclosure filings of approximately 90 issuers across a broad spectrum of industries and size of operations, focusing on the disclosures of the most recent reporting period ending September 30, 2020. As a result of the reviews, some issuers required no action, while other issuers were requested to make prospective disclosure enhancements. 
The CSA will continue to closely monitor issuers’ continuous disclosure filings in relation to the impact of the COVID-19 pandemic, as part of the CSA’s ongoing continuous disclosure review program.  Further regulatory guidance to assist issuers with their COVID-19 disclosure can be found on the CSA COVID-19 Information Hub.
CSA Notice 51-362 Staff Review of COVID-19 Disclosures and Guide for Disclosure Improvements is available on CSA members’ websites. 
The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.
For media inquiries, please contact:
For Investor inquiries, please refer to your respective securities regulator. You can contact them here. 
For inquiries from market participants (issuers and registrants, or their representatives), please refer to the list of subject matter experts at the end of the CSA Staff Notice.

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The Canadian Securities Administrators (CSA) today published key findings of recently completed reviews of issuers’ COVID-19 disclosure. Guidance and disclosure examples have been provided to assist issuers with reporting on the impacts of COVID-19 to their business and operations.   
“We are encouraged by the overall quality of disclosures issuers provided,” said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. “However, there were some instances where issuers did not provide sufficient detail related to the current and expected impact of COVID-19 on their operations and financial condition, including liquidity and capital resources. It is important that issuers review this guidance closely so that they provide transparent and balanced disclosure.”
A majority of issuers reviewed provided detailed, quality disclosure. This included affected issuers significantly expanding their Management Discussion and Analysis section (MD&A) to explain the impact of COVID-19 to their industry, operations, customers and suppliers. Most issuers also adequately disclosed impairments of non-financial assets in light of deterioration in their business since the onset of the COVID-19 pandemic. 
CSA staff identified some areas where disclosure could be improved, including issuers needing to provide more discussion of entity-specific measures taken to reduce the COVID-19 impact on their business. The review also revealed instances where issuers provided unbalanced or overly promotional disclosure, as well as isolated instances of non-compliance of non-GAAP measures and forward-looking information. 
CSA staff reviewed the continuous disclosure filings of approximately 90 issuers across a broad spectrum of industries and size of operations, focusing on the disclosures of the most recent reporting period ending September 30, 2020. As a result of the reviews, some issuers required no action, while other issuers were requested to make prospective disclosure enhancements. 
The CSA will continue to closely monitor issuers’ continuous disclosure filings in relation to the impact of the COVID-19 pandemic, as part of the CSA’s ongoing continuous disclosure review program.  Further regulatory guidance to assist issuers with their COVID-19 disclosure can be found on the CSA COVID-19 Information Hub.
CSA Notice 51-362 Staff Review of COVID-19 Disclosures and Guide for Disclosure Improvements is available on CSA members’ websites. 
The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.
For media inquiries, please contact:
For Investor inquiries, please refer to your respective securities regulator. You can contact them here. 
For inquiries from market participants (issuers and registrants, or their representatives), please refer to the list of subject matter experts at the end of the CSA Staff Notice.

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More than 350 New Brunswickers reported last year, losing a total of more than $1.6 million to fraud and scams. 
The figures come from the Canadian Anti-Fraud Centre (CAFC), which ranked the top categories of fraud in New Brunswick to be extortion, theft of personal information, merchandise, investment, romance and job scams. 
Compared to 2019, this is an increase of almost $480,000 lost to scams in New Brunswick. 
“It’s hard to say if this number has increased due to more scams and frauds in the province, or due to an increase in people coming forward to report a fraud or scam,” says Marissa Sollows, Director of Education and Communications of FCNB. “It’s estimated that only five per cent of people report frauds or scams so the actual numbers of victims and money lost are likely much higher.”
The increase could also be due to the ongoing COVID-19 pandemic, which gave fraudsters a new opportunity to take advantage of Canadians. From early March until the end of December 2020, the CAFC received reports from 8,136 Canadian victims of COVID-19 frauds and scams with a total dollar loss of $6.9 million.  FCNB formed an internal fraud prevention messaging task force to monitor COVID-19 related scams in the province and launched a radio and TV campaign last spring to warn New Brunswickers.
FCNB encourages New Brunswickers who recognize the signs of a fraud or scam to take the next step and report it.  “Don’t let embarrassment or fear keep you from reporting fraud,” says Sollows. “Every day that you delay reporting fraud is one more day that the scammer is free to spend your money and target your friends and family as their new victims.”
Learning to recognize the red flags of scams and being wary and vigilant can help protect you from becoming a victim of fraud. A wealth of resources to help you learn the signs are available at FCNB.ca.
Here are the top frauds and scams reported in New Brunswick in 2020: 
ExtortionTotal reports in New Brunswick: 309Reported dollar loss: $75,363
How it works: A scammer uses coercion to unlawfully try to obtain money or services from you. There are different variations, but they all involve threats. Threats of violence, property damage, or reputational harm may take place by phone, text, email, or internet to create a sense of urgency and alarm to get you to send money.
Red Flag: They prey on your fears by threatening to blackmail you or tell you that you will be arrested. When you panic you may not be thinking clearly and are more likely to share information that you normally wouldn’t.
Where to report: The CAFC, the RCMP or your local police.
Personal InformationTotal reports in New Brunswick: 99Reported dollar loss: N/A
How it works: A scammer, pretending to be from a business, government agency, a bank, or utility company, urgently asks you to verify your personal information. They may request information such as your name, address, birth date, account information or Social Insurance Number (SIN). Once you provide this information, the scammer may use it for identity fraud.
Red Flag: They try to catch you off guard by calling early in the morning or in the middle of the night when you are less alert and more likely to share information that you normally wouldn’t.
Where to report: The CAFC, the RCMP or your local police.
MerchandiseTotal reports in New Brunswick: 59Reported dollar loss: $27,694
How it works: Fraudsters may place advertisements on popular classified sites, social networks or create websites that look and feel like legitimate manufacturer. Fraudsters will generate traffic to their products by advertising them at deep discounts. You may receive counterfeit products, lesser valued, unrelated goods, or nothing at all.
Red Flags:
If an offer seems too good to be true, it probably is. Be sure to research before you buy.
The seller declines to meet in person to make the exchange or asks you to pay with unusual methods such as gift cards or cryptocurrency. Whenever possible, you should exchange goods in person or use your credit card for payment.
Where to report: The CAFC, the RCMP or your local police.
Here are some of the top frauds and scams in New Brunswick based on dollars lost reported in 2020:
InvestmentsReported dollar loss: $865,000
How it works: Scammers will solicit for investments into false or deceptive investment opportunities. These opportunities falsely promise higher-than-normal returns. However, investors lose most or all their money. Common forms of investment fraud include cryptocurrency, initial coin offerings and pyramid or ponzi schemes.
Red flag: 
The investment claims to be “zero risk” or guarantees a specific return. 
The scammer requests that you invest using cryptocurrency, money wire or sending a gift card. 
The scammer uses aggressive selling techniques. Always do your research, ask questions and verify registration, before making an investment.
Where to report: FCNB at 1-866-933-2222 or fcnb.ca
RomanceReported dollar loss: $536,189
How it works: Scammers most commonly use email, social media sites, and dating websites to set up a fake profile and pretend to be looking for a companion. They will express strong feelings for you to gain your trust. Usually the scammer will tell you they need money for a personal or medical emergency, to help pay their bills, or for travel expenses to come visit you. But really there is no emergency and they do not intend to visit.
Red flags:
The relationship is moving very fast. They will express strong feelings for you very early on to gain your trust.
Scammers will often hide behind fake photos. They will make excuses as to why they cannot meet in person, to avoid revealing their true identity. 
Where to report: The CAFC, the RCMP or your local police.
JobReported dollar loss: $30,661
How it works: Scam artists often target people looking for employment online. Once you are “hired,” the scammer sends you money or a cheque to deposit into your bank account. The scammer then directs you to withdraw all the money from your bank account and forward it back to them or to a third- party using wire transfer, cryptocurrency or gift cards. Whatever story they tell the ending is the same—there is no job, the cheque is a fake, and you are on the hook for the money after the cheque bounces.
Red Flag: The job posting advertises high pay for little experience. If it seems too good to be true, it probably is. Before providing any personal information, be sure to do some research on the employer.
Where to report: The CAFC, the RCMP or your local police.
FCNB has the mandate to protect consumers and enhance public confidence in the financial and consumer marketplace through the provision of regulatory and educational services. It is responsible for the administration and enforcement of provincial legislation regulating mortgage brokers, payday lenders, real estate, securities, insurance, pensions, credit unions, trust and loan companies, co-operatives, and a wide range of other consumer legislation. It is an independent Crown corporation funded by the regulatory fees and assessments paid by the regulated sectors. Online educational tools and resources are available at www.fcnb.ca.

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Ontario is urged to adopt the passport rule to introduce speed and eliminate additional costs 
The securities regulatory authorities of British Columbia, Alberta, Saskatchewan, Manitoba, Québec, Nova Scotia, Prince Edward Island, New Brunswick, Newfoundland and Labrador, Nunavut, Northwest Territories and Yukon (CSA members), today published  a response to the Ontario Capital Markets Modernization Taskforce (“Taskforce”) Final Report (“Report”) issued January 22, 2021. 
CSA members commend the expeditious work completed by the Taskforce which is very useful to bolster our collective reflection on how to advance the Canadian securities regulatory regime. The response outlines the CSA’s perspective on how the Government of Ontario can best achieve the recommendations while also enhancing harmonization, efficiency, responsiveness and investor protection. 
“A highly harmonized securities regulatory system ensures the best possible outcomes for the Canadian capital markets,” says Louis Morisset, Chair of the CSA and President and CEO of the Autorité des marchés financiers. “Attempting to implement many of the recommendations outside of CSA mechanisms and processes would risk creating inter-jurisdictional friction and adding regulatory burden on market participants across Canada.” 
It is imperative that all policy-development work, current and future, be subject to a robust process which not only includes countrywide public consultations with all stakeholders (both market participants and investors as well as their advocates), but also includes appropriate research and cost-benefit analysis.
Ontario remains the only jurisdiction in Canada that has not adopted passport. Embracing passport would significantly reduce the regulatory burden for all Canadian market participants by introducing speed in regulatory decision-making and eliminating the additional costs of dealing with multiple regulators. “This can be achieved quickly and easily as the rule is already in place and would yield immediate benefits,” says Morisset. “We urge the Ontario Finance Minister to act in the best interest of all Canadian market participants and adopt the passport rule,” says Morisset.
All CSA members have, in some form, a mission to foster fair, efficient and vibrant capital markets and this is achieved with equal emphasis on investor protection. A proposition to change the Ontario regulator’s mandate to foster capital growth without commensurate attention to investor protection is of concern and should be approached with caution. A harmful imbalance would jeopardize the CSA’s sound policy-making approach and introduce risk of disharmonization. 
You may read the CSA members’ full response to the Ontario Capital Markets Modernization Taskforce Final Report here.
For media inquiries, please contact:                                                                                                                 Ilana Kelemen                                                                  Canadian Securities Administrators                [email protected]                                         
For Investor inquiries, please refer to your respective securities regulator. You can contact them here.

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Throughout the Covid-19 pandemic, the Canadian Anti-Fraud Centre has seen an increase in online scams that target individuals in isolation due to the lock downs and travel restrictions. This includes fraudsters targeting people looking for companionship or love through dating sites and social media.
With valentine’s day just around the corner, Canadians should be on the lookout for Romance Scams. In 2020 alone, Canadians lost more than $18.5 million to this scam.
In Romance Scams, fraudsters will gain the trust of the victim by carrying on a relationship over a period of time. This can include displays of affection, such as, sending gifts, flowers and tokens to prove that their feelings are genuine. In many cases, the fraudster will claim to be professional business people or military personnel that are travelling or stationed abroad. Once trust is gained, fraudsters will begin to ask for financial assistance for reasons like urgent situations (e.g. a sick family member or to complete a business transaction) or to return to the country (e.g. plane ticket, lawyer fees, or duty & taxes).
Warning Signs
Attempts to meet in person never happen, there’s always an excuse why they can’t meet.
Fraudsters want to develop a quick relationship with you. Be suspicious when someone you haven’t met professes their love to you.
Be cautious of an individual that claims to live close to you but is working overseas. This is a set up for the fraudster to provide you with many reasons to ask for money.
If you are asked to accept a payment from someone you’ve met online and send a part of the funds back to them or someone else – don’t do it!
A growing trend being noticed is the fraudster asking you to invest in a new business venture or cryptocurrency.
How to protect yourself
Never, under any circumstances, send money to someone you’ve never met.
Protect your personal and financial information. Do not share personal or financial information with anyone you’ve only met online.
Never send intimate photos or videos of yourself. They could be used to blackmail you.
Do a revers image search of any photos you are sent to see if they have been taken from a stock photo site or someone else’s online profile.
Do not travel to another country to meet someone for the first time. This is often a setup to get you to partake in criminal activities with risks of injury, arrest or even death.
Learn more tips and tricks for protecting yourself.
If you think you or someone you know has been a victim of fraud, please contact the Canadian Anti-Fraud Centre at 1-888-495-8501 or report online at www.antifraudcentre-centreantifraude.ca.

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Your career at FCNB is enriched with daily opportunities to learn, innovate, and grow professionally in a supportive, stimulating, and flexible workplace. We offer a competitive total compensation package and exciting opportunities for professional development. We support our employees in maintaining their professional designations and provide technical updates on a continual basis for many of our sectors. We offer a variety of management leadership skills training opportunities and a popular French-language program for those employees interested in strengthening or maintaining their second language. Our professional groups bring together professionals working in the same fields to offer peer support and learning. 
We are currently hiring for:
Records Management Coordinator
For more information about this position please visit our Career page or call the Human Resources Officer at (506) 643-7858.

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The Canadian Securities Administrators (CSA) is warning the public about a trading scam advertised under the name of Mercury Crypto Invest (Mercury). Mercury posted a series of online advertisements, primarily on Kijiji, offering an investment opportunity to people across Canada. 
Mercury represented itself as an “accredited trader” with the Investment Industry Regulatory Organization of Canada (IIROC) and the CSA. There is no such thing as a CSA-accredited trader and Mercury is not registered to trade in, or advise on, securities or derivatives with any securities regulator in Canada. 
The online advertisements promised a guaranteed return and a 95 per cent “win rate” through investments in binary options and cryptocurrencies. In 2017, the CSA announced a ban on binary options, making it illegal to advertise, offer, sell or otherwise trade binary options shorter than 30 days with any individual.  
Members of the CSA’s Enforcement Committee collaborated, through its Investment Fraud Task Force, to identify the scam and quickly take steps to reduce the risk to Canadian investors. The Task Force worked with Kijiji to have the online advertisements removed. This alert is being issued due to the concern that the same advertisements, or variations on them, may reappear on Kijiji or other online platforms. 
The CSA encourages investors to watch out for the following red flags in order to avoid investment scams:
Ignore promises of “guaranteed” high returns with little or no risk: Generally, the higher the return, the higher the level of risk, and no investment can guarantee a 95 per cent return. Make sure the opportunity is suitable for your investment goals before investing your money.
Be wary of the latest trends and feeling pressured to buy: Scam artists use the latest trends in the news such as cryptocurrencies to entice investors into their schemes. If you don’t understand what the investment is about, get clarification as part of your research into the opportunity.
Do not trust claims of insider information: A scam artist may claim to have information that nobody else knows about a company. You have no way of knowing if this information is true. Even if it is, trading on inside information is illegal in Canada.
Check registration: Before working with any adviser or investment firm, find out if they are registered. Individuals and firms selling securities are required to be registered by securities regulators to sell you any investment. Check registration and any disciplinary history through the CSA website. 
Get independent, professional advice: Take some time to consult with a person who is not participating in the investment, such as a lawyer, banker, accountant, financial adviser or someone else with financial expertise before investing. Don’t feel pressured to hand over your money until you’ve had some time to carefully consider the investment.
The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.
For media inquiries, please contact:    
Ilana KelemenCanadian Securities [email protected]
For Investor inquiries, please refer to your respective securities regulator. You can contact them here.

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Regulated Industries
FCNB is responsible for the regulation and enforcement of securities, insurance, pensions, credit unions, trust and loan companies, co-operatives, mortgage brokers, pay day lenders, real estate and a wider range of other consumer legislation. We regulate 34,000 industry participants who make their living working with New Brunswickers’ money. These industry participants handle more than $30 billion of New Brunswick consumers’ money.
Questions about your industry’s regulations and legislation? Proposed rule changes? Looking for bulletins and notices? If you operate a business in, or work in, one of these regulated industries, here’s where you’ll find answers.

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The Canadian Securities Administrators (CSA) is proposing targeted changes to provide registered firms and individuals with greater clarity on what information is required as part of the registration process, while also improving the quality of information received by regulators. These changes are expected to result in a more efficient registration and oversight process. 
“We heard from our stakeholders that certain registration information they provide can be disproportionately burdensome, and that other registration information requirements could be clearer,” said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. “These proposals are intended to modernize the registration information framework and provide greater clarity to registrants, while still allowing the CSA to receive the information necessary to carry out its regulatory role and protect investors.” 
The CSA is proposing changes to how registrants report, and firms manage, outside activities, including establishing a framework that outlines categories of outside activities that registrants need to report to regulators on. The changes also codify existing requirements regarding the oversight of outside activities that are positions of influence.
The proposed changes also include amending the way certain required information can be disclosed to regulators to minimize duplicate filings. Other amendments are also expected to reduce the number of common errors seen on forms by providing clear requirements on what information must be disclosed. 
Changes to reporting deadlines are also being considered, including extending the timeframe in which registrants are required to provide updates to certain registration information.  
The proposed amendments are not intended in any way to change the nature of the registration process, the requirement to register, or the assessment of suitability for registration.
Stakeholders are invited to provide comments in writing on or before May 5, 2021.
CSA Notice and Request for Comment of the proposed amendments to National Instrument 33-109 Registration Information can be found on CSA members websites. 
The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.
For media inquiries, please contact:                                                                                                             
For Investor inquiries, please refer to your respective securities regulator. You can contact them here. 
For inquiries from market participants (issuers and registrants, or their representatives), please refer to the list of subject matter experts at the end of the CSA Staff Notice.

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Goldpoint Resources Corporation Matter
The Ontario Securities Commission and the Ministry of the Attorney General of Ontario (AGO), have entered into a Memorandum of Understanding to exchange information and administer the Civil Remedies Act. 
This Act, which is Ontario’s civil forfeiture law, allows the AGO to ask the civil court for an order to freeze, take possession of, and forfeit to the Crown, property that is determined to be a proceed or an instrument of unlawful activity.
This Notice pertains to the Goldpoint Resources Corporation matter and these individuals:  Pasqualino Novielli, also known as Lee or Lino Novielli; Brian Patrick Moloney, also known as Brian Caldwell; and Zaida Pimentel, also known as Zaida Novielli.   Commission documents related to this matter are available on the OSC website here.

 
 
 
 
MINISTRY OF THE ATTORNEY GENERAL 
Civil Forfeiture Program (CFP)
Statutory Notice 656-21 made under Ontario Regulation 498/06
ATTORNEY GENERAL OF ONTARIO- and –
$350,086.58 in Canadian Currency (in rem) or Funds Associated with Goldpoint Resources Corporation, Pasqualino Novielli, Zaida Pimentel, Brian Moloney and 1112086 Ontario Inc. (in rem) 
This notice relates to funds forfeited from investment fraud activities that occurred between August 2007-May 2008.   
This proceeding, commenced under the Civil Remedies Act, 2001, has resulted in the sum of $350,086.58 being deposited into a special purpose account.
All individuals or other persons who have suffered pecuniary or non-pecuniary losses (money or non-money damages) as a result of the unlawful activity that was the subject of the forfeiture proceeding are entitled to make a claim for compensation.
The Crown, a municipal corporation or a public body that is a member of one of the classes of public bodies prescribed in the regulation that suffered pecuniary losses as a result of the unlawful activity that are expenses incurred in remedying the effects of the unlawful activity are also entitled to make a claim for compensation.
All claims must comply with section 6 of Ontario Regulation 498/06 or they will be denied. Regulation 498/06 may be found at: http://www.e-laws.gov.on.ca/html/regs/english/elaws_regs_060498_e.htm.
For general information on civil forfeiture and soft copies of claims package documents, visit: https://www.ontario.ca/page/compensation-victims. 
If you have questions regarding entitlement to compensation, or the claims package, email us at [email protected]; call us toll free at 1-888-246-5359; Fax to 416-326-1780 or write to:
Civil Forfeiture Program Ministry of the Attorney General 18 King St E, 7th FloorToronto, ON, CANADA M5C 1C4    
All completed claims must refer to Notice 656-21 and be received by CFP no later than 5:00 PM EST on May 3, 2021 or they will not be considered. Completed claims may be submitted either in writing to the above address or electronically to the above e-mail account or via fax.
You may not be eligible for compensation if you took part in the unlawful activity giving rise to the forfeiture proceeding. Even if you are eligible for compensation, your claim may be denied if you are unable to provide proof of your claim.

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The Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) are closely monitoring how extreme price movement of certain stocks may be contributing to volatility in Canada’s capital markets. We will take appropriate regulatory action to protect investors if we identify that abusive or manipulative trading activity may be taking place.
With strong market oversight and surveillance infrastructure in place, Canadian regulators are working together closely to protect investors while ensuring that the markets operate in an orderly manner and with integrity. We are monitoring market activity in real-time to support healthy Canadian capital markets and to protect investors. Canada’s capital markets remain strong.
The CSA and IIROC continue to be in close contact with regulators domestically and internationally, recognizing that trading and market volatility is not confined by borders. 
We also continue to be in close contact with regulated entities, and will continue to monitor issuers’ compliance with disclosure requirements for anything material that might affect their stock prices.
We caution investors to consider the source of information and advice they are relying on to make investment decisions. Online chat rooms are unregulated and may contain information that is inaccurate or inappropriate for some investors. Investors should always check the registration of any person or business trying to sell them an investment or give them investment advice. To do this, investors can visit AreTheyRegistered.ca or IIROC’s database of advisors working for IIROC regulated firms.
The CSA and IIROC will continue to work to protect investors from improper and unfair practices in the capital markets.
For media inquiries, please contact:    
For Investor inquiries, please refer to your respective securities regulator. You can contact them here.

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FCNB recently became aware that Cash Forex Group (CFX) may have been marketing and selling their products and services to New Brunswickers.
This company claims to offer forex trading services for investors through its online trading platform using algorithms and artificial intelligence. According to its website (cashfxgroup.com), the company claims to be headquartered in Panama City. 
CFX is not registered to trade in, or advise on, securities or derivatives in New Brunswick. The Financial and Consumer Affairs Authority of Saskatchewan recently issued an investor alert on CFX and the British Columbia Securities Commission recently placed CFX on its Investment Caution List.
The FOREX market, also referred to as the Foreign Exchange or FX market, is basically the exchange of one currency for another. Profits and losses depend on the fluctuations in the exchange rate between the two currencies.
Although some opportunities to invest on the FOREX market are legitimate, investors should use caution. Ads for FOREX opportunities may look convincing, but if the company is not legitimate, your money may not be invested in anything, and simply disappear. 
New Brunswickers considering the FOREX market should do their research and understand what they are getting into before investing. Firms must be registered in New Brunswick to trade or advise in FOREX, otherwise they are in breach of the province’s securities laws. Use the National Registration Search Tool to check registration. Visit FCNB’s website to learn more on how to become better informed about investment products and services.

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As the value of cryptocurrencies reach new highs, the Canadian Anti-Fraud Centre (CAFC) wants to remind Canadians to recognize that fraudsters also seek to benefit from the growing interest in crypto currency markets. Data breaches, thefts, exit scams and frauds tied to initial coin offerings have all been documented in 2020.
The following are some general guidelines and best practices to reject fraud and protect your virtual assets.
How to protect yourself
Be careful when sending cryptocurrency. Once the transaction is completed, it is unlikely to be reversed.
As proceeds of crime and anti-money laundering regimes around the world create regulatory frameworks that treat businesses dealing in crypto currencies as money service businesses, Canadians need do their research to ensure they are using reputable and compliant services.
Retain your cryptocurrency with well-known and reputable exchanges, and purchase any hardware wallets directly from the manufacturer.
Learn the differences between cold wallets and hot wallets. Cold wallets are not connected to the internet and hot wallets are connected to the internet. On the one hand, you are in control of your virtual assets where on the other hand, you may be exposing your cryptocurrency to the risk of theft and/or relying on a third party exchange to manage your virtual assets.
Use strong and unique passwords for different online accounts. In the case of a data breach, fraudsters may try using credential stuffing tactics to access your crypto currency wallet.
Consider using multi-factor authentication to secure your accounts and/or authorize transactions. This is an added layer of security that helps to reduce fraud.
Beware of phishing emails, store your private keys safely and NEVER share this information. If you lose these keys, you may also lose your virtual assets. The same is true for any 12 or 24 word passphrases.
Learn more tips and tricks for protecting yourself from fraud.
If you think you or someone you know has been a victim of fraud, please contact the Canadian Anti-Fraud Centre at 1-888-495-8501 or report online at www.antifraudcentre-centreantifraude.ca.

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Regulated Industries
FCNB is responsible for the regulation and enforcement of securities, insurance, pensions, credit unions, trust and loan companies, co-operatives, mortgage brokers, pay day lenders, real estate and a wider range of other consumer legislation. We regulate 34,000 industry participants who make their living working with New Brunswickers’ money. These industry participants handle more than $30 billion of New Brunswick consumers’ money.
Questions about your industry’s regulations and legislation? Proposed rule changes? Looking for bulletins and notices? If you operate a business in, or work in, one of these regulated industries, here’s where you’ll find answers.

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