Be an informed investor - Don't be fooled by fraudsters misrepresenting themselves
July 11, 2023 (Toronto, Ontario) – The Canadian Investment Regulatory Organization (CIRO) is warning Canadian investors not to be fooled by universalaccess.ltd.
On their website, https://universalaccess.ltd, the company falsely claims to be a registered investment dealer of the former Investment Industry Regulatory Organization of Canada (IIROC) and a member of the Canadian Investor Protection Fund (CIPF).
Universalaccess.ltd is not a member of CIRO and was never registered with IIROC to sell crypto assets, or any other investment products. Universalaccess.ltd accounts are not protected by CIPF.
All investors must be informed and ask themselves important questions before purchasing higher-risk investment products that do not trade on stock exchanges. Unregulated crypto-asset trading platforms are different from regulated marketplaces and may be missing key investor protections.
Registered investment firms are regulated, and individuals must meet our high standards and deal fairly, honestly and in good faith with Canadian investors. We urge Canadian investors to exercise caution when dealing with non-registered firms.
Investors should check the background, qualifications and any disciplinary history of investment advisors registered with CIRO or the CSA by checking the free AdvisorReport for advisors registered with investment dealers, or the CSA’s National Registrant Search.
If you believe you have been a victim of this or a similar scam, immediately contact your bank, local police, your provincial securities commission, and the Canadian Anti-Fraud Centre.
For further information, please contact:
For media inquiries only:
Stephanie Teodoridis
Canadian Investment Regulatory Organization
Telephone: 416-254-9026
Email: [email protected]
Please direct all other inquiries to our Complaints & Inquiries team:
1-877-442-4322 (Canada/US),
800-5555-2323 (Outside Canada/US),
or by completing our Secure Contact Form
About CIRO
The Canadian Investment Regulatory Organization (CIRO) is the national self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada’s debt and equity marketplaces. CIRO is committed to the protection of investors, providing efficient and consistent regulation, and building Canadians’ trust in financial regulation and the people managing their investments. For more information, visit www.ciro.ca.
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