Investor Bill of Rights

by Natalie MacLellan on August 17, 2009

in Fraud Prevention

Tomorrow I will begin a series of posts regarding the “Top Investor Traps” as identified by the North American Securities Administrators Association (NASAA).  Before we get into lengthy discussions about fraud and inappropriate investing, I’d like to remind you what your rights are, as an investor.

The Investor Bill of Rights

When you invest, you have the right to:

  • Ask for and receive information from a firm about the work history and background of the person handling your account, as well as information about the firm itself.
  • Receive complete information about the risks, obligations, and costs of any investment before investing.
  • Receive recommendations consistent with your financial needs and investment objectives.
  • Receive a copy of all completed account forms and agreements.
  • Receive account statements that are accurate and understandable.
  • Understand the terms and conditions of transactions you undertake.
  • Access your funds in a timely manner and receive information about any restrictions or limitations on access.
  • Discuss account problems with the branch manager or compliance department of the firm and receive prompt attention to and fair consideration of your concerns.
  • Receive complete information about commissions, sales charges, maintenance or service charges, transaction or redemption fees, and penalties.
  • Contact your provincial securities regulator in order to verify the employment and disciplinary history of a securities salesperson and the salesperson`s firm; find out if the investment is permitted to be sold; or file a complaint.

(Courtesy of the North American Securities Administrators Association. Click to download a PDF copy.)

Related posts:

  1. Top 10 Investor Traps of 2009 The North American Securities Administrators Association has released their list...
  2. Flow-throughs, rights and warrants A flow-through share is a special type of common share...
  3. Cold Calling Alert You’ve got to understand,” said the voice on the other...
  4. Affinity Fraud: How it works & how to avoid it Beware of swindlers who claim loyalty to your group In...
  5. New Year’s Investing Resolutions: Check your credit report – for free The new year is traditionally a time when everyone vows...

Share & Bookmark This Story!

{ 0 comments… add one now }

Leave a Comment

You can use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Previous post: Retiring in Canada: New national pension plan proposed

Next post: Top 10 Investor Traps of 2009