Generally, anyone selling securities, offering investment advice or acting as an investment fund manager in New Brunswick must be registered with FCNB. Securities industry professionals are required to register with the securities regulator in each province or territory where they do business. The registration category tells you the type of products or services someone is qualified to sell or provide advice on.
Read Understanding Registration to learn about categories of registration, common financial titles and designations associated with them in the Canadian financial services sector.
Registration helps protect New Brunswick investors like you because:
- FCNB will only register firms and individuals if they are properly qualified and meet proficiency requirements for their category of registration.
- Any restrictions (known as “terms and conditions”) imposed on a firm or individual by FCNB or other regulators will be listed.
- Individuals must undergo a background and police check as part of the registration process.
- Registered advisers and dealers are obligated to recommend investments that are suitable for you based on information that they gather from you.
Registration is an important layer of protection for investors but being registered is not a guarantee the person will always give you good advice or act ethically.
Learn more about the Categories of Registration
How to Check Registration and Background
These tools or websites can help you research who you are considering working with:
- National Registration Search – This search tool contains the names of all individuals and firms who are registered in Canada.
- CSA Disciplined Persons List – The Canadian Securities Administrators (CSA) disciplined persons list includes disciplinary action taken by a provincial or territorial securities regulator.
- Mutual Fund Dealers Association of Canada (MFDA) and the Investment Industry Regulatory Organization of Canada (IIROC)
- AdvisorReport – AdvisorReport lets you research the background, qualifications and disciplinary history of advisors with IIROC-regulated firms.
- FCNB Securities Caution List – FCNB maintains a list of individuals and firms that are not registered to trade in securities or to provide investment advice in New Brunswick.
Also check for Recent Orders or Decisions from Regulatory Bodies:
- Recent Decisions of the Financial and Consumer Services Tribunal – Administrative tribunal hearing decisions and settlement agreements are public records.
- Previous Decisions of the New Brunswick Securities Commission – On 2 July 2013, the New Brunswick Securities Commission became part of the Financial and Consumer Services Commission. Previous decisions made by a New Brunswick Securities Commission administrative tribunal panel are available here.
- Canadian Securities Administrators' Cease Trade Order Database – Canadian securities regulatory authorities and tribunals who oversee securities regulation in their respective provinces or territories update the Cease Trade Order Database.
You can also find helpful information about a company or individual in the news or by searching online. This can tell you about court cases and be a source for hearing rumours that you should investigate further.