The Financial and Consumer Affairs Authority (FCAA) is warning Saskatchewan residents about the online entity WilliamsBlair Asset Management Ltd.

The FCAA says that WilliamsBlair approaches Saskatchewan residents through social media messaging and an alleged investment application. The application displays what looks like real market screens and increasing account balances. It also claims to present share purchases and margin type investment opportunities.

WilliamsBlair is not registered with the FCAA to trade or sell securities or derivatives, which is required in Saskatchewan. The FCAA cautions that they may not be a legitimate business. They add that the alert only applies to WilliamsBlair Asset Management Ltd and not other businesses with a similar name.

If you have invested with WilliamsBlair or someone claiming to be acting on their behalf, contact the FCAA’s securities division.