The Canadian Securities Administrators (CSA) is recommending that investors determine whether the individual or firm offering them investment advice is actually registered to do so.

“Canadian securities regulators will only register firms and individuals that meet specific qualifications and standards,” notes the CSA. “Checking registration helps to protect investors because it confirms whether the person or firm you are trusting with your money is authorized to sell investments or offer investment advice.”

The CSA is encouraging people to use its national search tool at www.aretheyregistered.ca, which it says is an easy way for them to verify whether a firm or individual is registered to sell securities or offer investment advice in their province or territory. If the person or company offering advice is not registered, the CSA recommends investors contact their provincial securities regulator immediately.

“Investors should have confidence in the individual or firm they choose to handle their investments and a registration check is a critical initial step in building that confidence,” comments Bill Rice, Chair of the CSA and Chair and CEO of the Alberta Securities Commission.