The tips provided in this section are intended to empower the user to interact with a trained/licensed individual in an informed manner. The tips are not designed to replace the service of these individuals. The ECSRC strongly recommends that the user seeks professional advice before taking action on any investment matter.
To help you decide when it may be right to invest
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If you habitually spend less than you earn this may signal that you have funds to put towards an investment.
A decision to invest in a financial asset is guided by your objectives. Some financial assets may be suitable for you, others may not. You should contact a person trained and licensed to assist you to manage your investments.
A decision to invest starts with a definition of your goals. Why do you want to invest?
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If an investment guarantees an incredibly high return it is likely to be a scam. Seek guidance from a trained licensed individual.
Do not be forced into purchasing a financial asset. Be sure that you understand how the product works, how the benefits satisfy your expectation and how the costs, including the chance that you may lose your principal, affect your financial situation.
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In the Eastern Caribbean Currency Union there are laws which provide legal recourse if you were defrauded in a securities transaction.
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Clearly define the complaint.
Make a chronological list of the events that may have led to the complaint.
Include a list of all the individuals/ companies, accounts and securities etc. involved, the name of the person you dealt with, key dates and the circumstances surrounding the issue.
Keep a log of correspondence to and from the company or individual, and with the ECSRC. The log should include telephone conversations, e-mails and faxes. Keep a log of the times and dates of phone calls, whom you spoke with and what was discussed. Communicate in writing as much as possible and keep copies of all correspondence.
Compile a file of any documents that would support your complaint. Include copies of application forms, statements, transaction confirmations, cancelled cheques, agreements, certificates and all relevant correspondence to and from the firm. Do not mail the originals of any documents to the ECSRC.
Record everything that occurs during the complaint process.
