Alberta Securities Commission Pressured Into Consumer Warning | Unpublished
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Unpublished Opinions

elford's picture
Larry Elford
Lethbridge, Alberta
About the author

His 2018 Book "About Your Financial Murder..." is found on Lulu.com  http://www.lulu.com/shop/http://www.lulu.com/shop/larry-elford/about-you...

Investment Misconduct and Malpractice Analyst

Larry Elford is acclaimed as a qualified expert on the subject of White Collar Crime as it relates to the investment selling industry. He is a retired CFP, (Chartered Financial Planner), a CIM, (Certified Investment Manager) by the Canadian Securities Institute, a FCSI, (Fellow of the Canadian Securities Institute), the highest designation awarded by the Canadian Securities Institute to those for top achievements in educational and industry accomplishments. He is also an Associate Portfolio Manager and Director of the Canadian Justice Review Board of Canada. 

Larry worked inside the largest financial institutions in Canada for twenty years until his retirement in 2004. He works today writing, speaking and coaching Canadians on how to create safe and honest treatment for investors. 

Larry Elford is also an author. He was included in John Lawrence Reynolds’ second edition bestselling book, The Naked Investor, Why Almost Everybody But You Gets Rich On Your RRSP and Bruce Livesey's  2012 book, Thieves of Bay Street, How Banks, Brokerages and the Wealthy Steal Billions from Canadians. He self-produced a documentary film, Breach of Trust, The Unique Violence of White Collar Crime, to benefit investors, legislators and those who investigate financial crime.  It can be viewed on Youtube.  https://youtu.be/k2K6pzFtyTU     

 

Twitter:    @RecoveredBroker

lelford@shaw.ca

Facebook group for Fraud victims 

https://www.facebook.com/groups/albertafraud/

Facebook group for Fraud victims across Canada (Small Investors Protection Association of Canada, 1998)

https://www.facebook.com/groups/240100382792373/

Video site for victims of investment malpractice    

http://www.youtube.com/user/investoradvocate?feature=mhe

www.investoradvocates.ca    research site

His first book is Titled "ABOUT YOUR FINANCIAL MURDER..." detailing the extent of financial abuse of the public attributable to a "self" regulated investment industry.

His second book, published in April of 2020, is "Farming Humans"   and is about "How to quietly strip America bare of the truth "all men are created equal”, found in the U.S. Declaration of Independence, in less than 250 years….http://www.lulu.com/shop/larry-elford/farming-humans/paperback/product-2...

 

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Alberta Securities Commission Pressured Into Consumer Warning

July 10, 2016

It has taken more than ten years of pressure and exposure, for the Alberta Securities Commission to reveal the information contained in this recent release.

Investors have suffered billions of dollars of losses due to the simple deceptions that have been allowed to be played upon them for decades.   It is hoped that Canadians will benefit from this tiny crack of insight being opened into a world of dark money secrets.  Enclosed is what I believe to be a "root cause" of declining financial security for far too many hard working Canadians.  PLEASE share this information with friends, media, politicians and so on.  I believe that it is as important that ALL Canadians are protected from deceptive financial practices, and we truly need to do some repair to our systems.

 

This release from the Alberta Securities Commission is interesting for several things it reveals to consumers for the first time:  http://www.albertasecurities.com/investor/investor-resources/you-ascd-bl...

It is the first time that the government regulator has informed Albertans that the correct legal term for a financial professional is called "adviser" in law, (note the spelling using "er") and not "advisor" as most salespersons use. They reveal this tidbit in the last three lines of this news release. 

If your "advisor" does not spell his or her title as "AdvisER", it is 99% likely that they do not legally hold the license that they are pretending to hold. That ruse should be of importance to any investor, and to any ‪#‎Classaction‬ lawyer.

It is also the first time that they have revealed to the public, that your current "advisor" may actually be licensed as something called a "dealing representative". (research in Canada finds that over 99% of persons who call themselves "advisor" are unlawfully concealing their true license of "dealing representative" (salesperson). 

This (hiding ones true license) is illegal under Alberta Securities law (Section 100 'representation/misrepresentation'), and yet the Alberta Securities Commission has not enforced that law to my knowledge at any time during the last two decades. 

It is also noteworthy to learn that a "dealing representative" has a far lower agency duty to protect the investor, much similar to a car salesperson at a dealership. (see suitability vs fiduciary duty) This loyalty is falsely implied to be something that it is not, when salespersons inflate themselves with a false title such as "advisor". 

The resulting falsehood helps investment sellers to conceal the deceptive marketing impression that you should give your money AND your trust to anyone calling themselves an "advisor", when they do not hold the correct agency duty of loyalty to protect the investor. 

Falsehood, upon deception upon misrepresentation is how this makes billions of dollars more for banks in Canada....Please share this with other Canadians so that they can protect their financial health.

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