CSA warns of fake Fidelity scam | Investment Executive : vim

CSA warns of fake Fidelity scam | Investment Executive


James Langton
Canadian securities regulators are warning investors about an alleged investment scam that appears to be impersonating fund company Fidelity Investments.
The Canadian Securities Administrators (CSA) issued an investor alert about a scam that purports to offer a high, guaranteed return from fictitious investment vehicles — the “Fidelity Capital Protected Fixed Income Fund” and the “Guaranteed Investment Bond.”
The CSA said the scheme falsely claims to be regulated by the federal Financial Consumer Agency of Canada and to carry protection from the Canada Deposit Insurance Corp.
Fidelity issued its own warning to investors, noting that the scam uses fraudulent documents that “contained Fidelity’s logo, brand, likeness, an image of Fidelity Investments Canada ULC President Rob Strickland, and more.”

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