Service NL
March 19, 2014

The following statement was given today in the House of Assembly by the Honourable Dan Crummell, Minister of Service NL:

Minister Observes Check Registration Day

Mr. Speaker, I am pleased to rise today in this Honourable House to acknowledge today, March 19, as Check Registration Day. This day is an initiative of the Canadian Securities Administrators and takes place every year during Fraud Prevention Month.

As an important part of Fraud Prevention Month, Check Registration Day increases consumer awareness about investment fraud. It promotes doing research to gain knowledge in self-defense against fraud, and encourages consumers to check for legitimate licences and/or registrations for individuals and companies in the real estate, insurance, mortgage brokering and securities industries before entering into any investment agreement or business transaction.

Mr. Speaker, protecting Newfoundlanders and Labradorians from all types of fraud is a primary concern of the Consumer and Commercial Affairs Branch of Service NL. To check the legitimacy of any financial service provider, consumers can visit the Consumer and Commercial Affairs page of the Service NL website at www.servicenl.gov.nl.ca, where they will find a list of all currently licensed or registered service providers.

It is important that investors have confidence in trusting an individual or firm with their money, and one of the best ways to establish trust is to check registration. To check the registration of a securities provider, investors can visit the Canadian Securities Administrators website and use the National Registration Search engine at www.aretheyregistered.com, or they can contact the Financial Services Regulation Division of Service NL at 709-729-4189.

Mr. Speaker, knowledge and awareness are the best defence against fraud. In recognizing the signs of potential scams and being familiar with the resources available to defend against it, consumers can protect themselves and their families from what can potentially have a financially devastating impact on their lives.

Consumers may also report any suspected cases of fraud to the Royal Newfoundland Constabulary, the RCMP, or of course to the Financial Services Regulation Division of Service NL.

Thank you Mr. Speaker.

2013 03 19                                        2:25 p.m.