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CSA warns investors about fake regulator website for derivative trading

VANCOUVER — The Canadian Securities Administrators is warning investors about a fake regulatory organization claiming to regulate the futures contract market in Vancouver.

The umbrella organization for the country's provincial and territorial securities regulators says there is no regulatory organization called the Canadian Office of Derivative Trading.

Securities and derivatives trading in Canada is overseen by the provincial and territorial securities regulators.

The CSA says it believes a website for the Canadian Office of Derivative Trading is being used by fraudsters to lend credibility to their investment scams.

It says prospective investors are referred to the website to conduct checks on investments being promoted, however the site and search results are fake.

The CSA says its members are investigating who is behind the website and working to have it taken down.

This report by The Canadian Press was first published April 24, 2020.

The Canadian Press