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Financial and Consumer Affairs Authority of Saskatchewan (FCAA) wants investors to be wary of the online entity known as Trenovia Group.
The FCAA is cautioning the public not to send money to them or other companies not registered in Saskatchewan, as they “may not be legitimate businesses,” according to the Ministry of Justice and Attorney General statement issued Friday.
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In Saskatchewan, individuals or companies are required to be registered with the FCAA to trade or sell securities or derivatives.
“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 in a statement. “Checking registration is the quickest and easiest way to make sure who you deal with is a legitimate business.”
The news release says, “Trenovia Group is not registered with the FCAA to trade or sell securities or derivatives in Saskatchewan.”
This group “claims to offer Saskatchewan residents trading opportunities, including stocks, cryptocurrencies, indices, contracts for difference (CFDs), and forex in the form of currency pairs,” read the statement.
This alert applies to the online entity using the website “trenoviagroup dot com.”
The Ministry of Justice and General Attorney recommends these tips for the public to protect themselves:
- Always check the person or company is registered in Saskatchewan to sell or advise about securities or derivatives by checking The Canadian Securities Administrators’ National Registration Search at aretheyregistered.ca.
- Be educated about what you are investing in, such as understanding how the investment, product or service works.
- Look for professional advice about the investment. Get a second opinion.
- Don’t let unknown or unverified individuals to remotely access your computer.
If anyone has invested with Trenovia Group or anyone claiming to be acting on their behalf, the FCAA’s Securities Division asks the public to contact them at 306-787-5936.
