April 24, 2020 / 3:18 PM / a month ago

Canada securities watchdog warns about fake regulatory website for derivative trading

(Reuters) - The Canadian Securities Administrators (CSA) on Friday warned investors against using a fake website by an entity claiming to regulate derivative trading in the country.

The CSA said there was no regulatory organization in Canada called the Canadian Office of Derivative Trading (CODT), adding that securities and derivatives trading in the country was overseen by provincial and territorial securities regulators.

The website is being used by fraudsters to lend credibility to their investment scams, the financial regulator said.

Members of the CSA, an umbrella organization for the country’s provincial securities regulators, are investigating the website and are working to take it down, it added.

Reporting by Abhishek Manikandan in Bengaluru

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