FCAA warns Saskatchewan residents about unregistered online investment entity

REGINA — The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) is warning Saskatchewan people about the online entity known as WilliamsBlair Asset Management Ltd.

"Checking the registration status of any investment entities through aretheyregistered.ca is a vital step for Saskatchewan residents looking to invest," FCAA Securities Division Executive Director Dean Murrison said. "By checking the registration status, Saskatchewan investors can make sure that who they deal with is a legitimate business."

WilliamsBlair approaches Saskatchewan residents via social messaging and an alleged investment application. The application displays what appears to be real market screens and increasing account balances. It further claims to present share purchases and margin type investment opportunities.

There may be other businesses with the same or similar name as "WilliamsBlair Asset Management Ltd." This alert does not apply to any such businesses. This alert applies to the online entity using social messaging channels and a purported mobile application described above.

WilliamsBlair is not 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.

If you have invested with WilliamsBlair or anyone claiming to be acting on their behalf, contact the FCAA's Securities Division at 306-787-5936.

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.

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.