Public Consultation Report on Opening Adoption Records Available / Investor Alert for CoinsFM

News

**** COMMUNITY SERVICES Media Release

Public Consultation Report on Opening Adoption Records Available
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The Department of Community Services recently consulted Nova Scotians about opening adoption records. The report detailing the results of this consultation is now available.

“We are grateful to all those who participated. The information collected will allow for a thorough consideration of people’s feedback,” said Kelly Regan, Minister of Community Services.

Currently in Nova Scotia, the Adoption Disclosure Program can conduct a search for an adopted person or a birth parent at the request of the other party. When that person is located, they must consent to their identifying information being released before it can be shared. If they do not consent, the identifying information cannot be shared.

In November 2019, the consultation was launched to ask Nova Scotians their opinions about opening adoption records. Over 2,700 responses to the online survey were received and over 100 participants attended in-person sessions held across the province.

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**** NOVA SCOTIA SECURITIES COMMISSION Media Release

Investor Alert for CoinsFM
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The Nova Scotia Securities Commission is alerting investors that CoinsFM is not registered to trade in securities or derivatives in Nova Scotia.

CoinsFM claims to be an online trading platform for cryptocurrencies and contracts for difference in crypto assets. Contracts for difference allow investors to speculate on the change in price in underlying instruments and are considered a type of derivative trading.

At least one Nova Scotia resident has lost money after investing with CoinsFM. This investor learned of CoinsFM through an online advertisement. CoinsFM offers a broker to assist with trades and a bonus on deposits to entice investors and to give the appearance of legitimacy. Investors are required to provide specific personal and financial information when opening an account.

The commission urges Nova Scotians to exercise extreme caution when dealing with unregistered firms. If you have had contact with CoinsFM, please contact the commission. Nova Scotians can contact the commission to report scams or suspicious behavior from anyone offering investment opportunities.

Quotes:
“The internet can be a dangerous place to shop for investments. Always take the time to check registration and understand the risks and costs associated with your investments. Never give out personal and financial information without independent verification of the legitimacy of operations. There may be long-term damaging effects to your financial well-being as a result. Becoming an informed investor is your best protection from falling victim to scams.”
​ ​ ​ ​ ​ – Stephanie Atkinson, acting director of enforcement, Nova Scotia Securities Commission

Quick Facts:
— it is illegal to solicit investments in Nova Scotia without registering with the commission and complying with Nova Scotia securities laws, unless an exemption applies

Additional Resources:
File a complaint or report a scam to the Nova Scotia Securities Commission: https://nssc.novascotia.ca/recognize-and-report-scam

To see if a company or person is registered, visit: https://www.securities-administrators.ca/nrs/nrsearchprep.aspx

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