The province is warning consumers about a handful of companies that are involved in financial transactions that may not be wholly legitimate.
The Financial and Consumer Affairs Authority of Saskatchewan sent out notices on four companies - Capitals Gain, AmCan, Lova Crypto, and CGWise.
According to the province:
- Capitals Gain claims to offer trading opportunities, including cryptocurrencies, stocks, forex, commodities, indices, and contracts for difference (CFDs).
- AmCan claims to offer investment in real estate, trusts, investment immigration, and other wealth management products, financial planning, wealth management, investment consulting, fund management, asset management, and risk management.
- Lova Crypto and CGWise claim to offer Saskatchewan residents trading opportunities, including cryptocurrencies and forex.
All four of those companies are not registered to trade or sell securities or derivatives in Saskatchewan.
Additionally, AmCan claims to have an office located at 415 Wellman Crescent, Saskatoon, Saskatchewan, which the government says is not true.
"Before investing, make sure you verify that entities offering investment opportunities are registered to do business in Saskatchewan through the Canadian Securities Administrators' database at aretheyregistered.ca," FCAA Securities Division Executive Director Dean Murrison said. "Verify registration status so you do not lose your hard-earned money."
If anyone has invested with any of those four companies or anyone claiming to be acting on their behalf, the province asks that you contact the FCAA's Securities Division at 306-787-5936.