The Canadian Securities Administrators (CSA) is cautioning investors to be aware that NovaTech Ltd is not certified by any provincial or territorial securities regulator in Canada.
CSA is cautioning the public that NovaTech Ltd, has not been registered with any provincial or territorial securities regulator in Canada.
This implies they are not allowed to provide trading in any securities to any person situated in Canada.
It appears that NovaTech may be conducting business in contravention of provincial and territorial securities and derivatives laws, including provisions related to non-regulated trading and the unlawful distribution of securities. Via its website, NovaTech appears to be offering investment products and trading services.
On February 5, 2023, NovaTech declared a 60-day suspension of withdrawals from trading accounts. On March 2, 2023, the Capital Markets Tribunal in Ontario furthered a cease-trade order from the Ontario Securities Commission, which necessitated a complete suspension of trading in any of NovaTech’s securities.
Any person in Canada trading securities, derivatives, or offering investment advice in relation to securities and derivatives, including platforms that facilitate the trading of products related to forex and cryptocurrencies, must adhere to relevant securities or derivatives legislation.
Investors should always confirm the registration of any individual or business attempting to sell them an investment or provide them with investment advice.
Canadian investors who have been contacted by NovaTech, or who have purchased one of its investment products can reach out to their provincial or territorial securities regulator.
The CSA regulates and harmonizes law for the Canadian capital markets.
