Residents are being reminded to do their homework and keep their hard-earned dollars in their pocket.
In Saskatchewan, the law states that if a vehicle dealer advertises the price of a new or used vehicle, that price must be “The Drive-Away Price”. This not only includes GST and PST, but also all other taxes and charges the dealer intends to collect.
According to the Financial and Consumer Affairs Authority of Saskatchewan (FCAA), examples of other charges dealers must include in the advertised price are:
• Administrative and documentation fees; and
• Government levies (tire tax, air tax etc)
Additionally, products or services that have been pre-installed on a vehicle by a dealer, must also be included in the advertised price, including:
• Nitrogen/tire protection package;
• Security of theft deterrent products or services (etching);
• Fuel; and
The FCAA recommends that consumers take a picture of the vehicles advertised price before going into the dealer. Furthermore, if consumers notice a difference in advertised price and full cash price, the FCAA says to work with the dealer to find a remedy. If unsuccessful, they are urged to file a complaint with the FCAA.
Residents should also exercise their due diligence when choosing any company that will handle their finances, including investments and trading.
The FCAA recently issued a Temporary Cease Trade Order against a group of overseas companies who appear to be trading and advising securities and derivatives in Saskatchewan.
These companies include;
• United Financial Commodity Group
• United FCG
• UFCG Limited and UFCG Ltd.
According to the FCAA, representatives of these companies have contacted at least one Saskatchewan resident by phone, seeking investment funds for the purpose of trading options online. These companies are not registered in Saskatchewan and appear to be operating out of Bulgaria or England.
Residents are able to see if a company is registered to trade or advise in Saskatchewan by visiting www.aretheyregistered.ca.
Any residents who have been contacted by the above companies are urged to call the FCAA’s Securities Division at 306-787-5645.