REGINA — The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) warns investors of an impersonation scam involving the online entity using the website "theperidot com" (this URL has been manually altered so as not to be interactive). The website claims to be associated with an Australia-based business named Peridot Investment Management.
"The FCAA cautions Saskatchewan residents to check the registration status of investment entities at aretheyregistered.ca before investing with anyone," FCAA Securities Division Executive Director Dean Murrison said. "Checking registration is a quick and easy way to confirm whether a person or business is allowed to offer investments in Saskatchewan."
The website "theperidot com" claims to offer Saskatchewan residents trading opportunities including stocks, mutual funds, exchange-traded funds (ETFs), and investments connected to companies before they go public ("pre-IPO" investments) and when they first begin selling shares to the public ("initial public offerings" or "IPOs").
No entity using the name "Peridot Investment Management" or the website "theperidot com" is registered with the FCAA to trade or sell securities or derivatives in Saskatchewan. The FCAA cautions investors and consumers not to send money to companies that are not registered in Saskatchewan, as they may not be legitimate businesses.
In Saskatchewan, individuals or companies need to be registered with the FCAA to trade or sell securities or derivatives. The registration provisions of The Securities Act, 1988, and accompanying regulations are intended to ensure that only honest and knowledgeable people are allowed to sell securities and derivatives and that their businesses are financially stable.
If you have invested with "theperidot com" or anyone claiming to be acting on their behalf, contact the FCAA's Securities Division at 306-787-5936.
This alert applies only to the online entity using "theperidot com" and does not apply to any other company or to any other businesses that may have a similar name.
Tips to protect yourself:
- Always verify that the person or company is registered in Saskatchewan to sell or advise about securities or derivatives. To check registration, visit The Canadian Securities Administrators' National Registration Search at aretheyregistered.ca.
- Know exactly what you are investing in. Make sure you understand how the investment, product, or service works.
- Get a second opinion and seek professional advice about the investment.
- Do not allow unknown or unverified individuals to remotely access your computer.
- Never make an investment decision based on a notable figure endorsement. Scammers often create fake social media posts or news articles claiming an investment is endorsed by a notable figure.
