-          Get your Police Check Form in by Oct 31^st.  You can print off a copy from Mike Molloy’s email of Oct 16^th.

 

Guests:  Alister Field, Guest Speaker; Don Smith, Rotary Club of Burlington; Anel and Mana, our great exchange students; Fred Sweeney, Rotary Club of Burlington North and Trevor Gard, guest of one of our members.

 

New Member Induction: Our first order of business was to induct our newest member of the club, Sean Thompson. Sean was introduced to the club by Jamie Edwards.  He is a native of Orillia and graduated as a mortician in 1989 and came back to his home town to work.  He is now employed at Smith’s Funeral Home in Burlington.

 

 

Announcements: President Lawrence Leung was somewhat frustrated because the modem for his computer was broken down so last night he went to Tim Hortons to use their Wi-Fi and when he got to the Club today he wasn’t able to download the electronic presentation he had for us about today’s program so we just got the verbal edition.

 

There were many positive comments about the Mystery Tour.  Jim Brindle reported that there was a slide show on our Club Web Site for all to view. Thanks went out to Rod, Bryce and Andrew for organizing this fun event.

 

On Saturday, Rotaract is doing a “Planting for Joy” event. Both our exchange students are registered. All proceeds will go towards packing shoeboxes with toys, school supplies and essential toiletries which will be shipped to children in need just in time for Christmas.

 

World Polio Day is Wednesday Oct 24^th. There is a social and we are getting a cheque from 5 West Brewpub at Walkers Line and Dundas St. in regards  to the Polio Plus program where a percentage of all sales go towards Polio Plus.  In addition, if we, as Rotary members drop by for food and drink at any time and tell them we are Rotarians, they will give 15% of our bill to Polio Plus.

 

Social Space Next Door is looking for volunteers to help on Wednesday Oct 31^st.  Rod Collard has more details.

 

Remembrance Day is being observed by all 4 Burlington Clubs at the Naval Veterans Hall, 2444 Industrial St. Burlington on Wednesday Nov 7 at 5:30 PM .  The normal club meeting the next morning on Thursday is cancelled. The theme this year is the role of the Indigenous Canadians in the 2 World Wars. Tickets are $35 but are available only in limited numbers so gets yours fast!

 

Membership Training is available on Saturday, Nov 10^th at Sunbridge Hotel in Cambridge, 8 am – 1 pm.  Free to those who have less than 2 years Rotary membership – otherwise $75.  Foundation Qualification Training – 8 am – 3 pm.

 

Sunday Nov 25^th is the Harbourtown Sound Choir at the Burlington Performing Arts Centre to help eradicate polio.  Last year $21,500 was raised. Theme this year is “How the Grinch Stole Christmas” Tickets will be available Nov 1^st.

 

Poinsettia Fundraiser raised over $12,000 last year.  This year we hope to expand this.  Committee members are Rod Collard, Ron Lambert, Joe Watson, Andrew Gaydon, Catherine Brady, Bryce Leggatt and Peter Thoem. Everyone is being asked to sell 4-5 more than last year.  Teams are being set up with the winning person from each team getting a free bottle of wine.

 

Santa Claus parade is on Sunday, Dec 2 at 2 pm. All 4 Burlington Clubs are participating.

 

Our Annual Christmas Party is being held at Lawrence’s Condo party room 360 Pearl Street.  A survey is being held on a date either Dec 8 or 9.

Children’s Christmas Party is being held Dec 20 at our usual meeting.

 

 

There will be no meeting on Dec 27^th.

 

Sheila Welham reported that we are recruiting exchange students who are 15 ½ – 16 ½ years old.  Applications have to be in by Nov 1^st. Interested students should contact their guidance counsellor at the schools.

 

If you have used hockey equipment, see Nancy Penney who is looking for any and all for a sale/swap event.

Anel and Mana gave a quick report.  Anel is really getting involved in the theatre at her school. She has been going 'til 5 pm for the past 2 weeks in getting ready for her upcoming production of “Spamelot”.

 

Nana reported that she has been with us 8 weeks now and is enjoying meeting all the new people.  She provided a ninja star made of paper for each table.

 

 

Alister Field – Guest Speaker: Alister is manager of the Enforcement Branch at the Ontario Securities Commission.  His topic is How to Protect Out Money and Fraud Prevention.  He was formally with the Metro Toronto Police working in the Fraud Squad. His focus is to provide protection to the financial markets.

The OSC has broad powers to enforce the Securities Act (Ontario) and the Commodity Futures Act. They investigate allegations of misconduct in the capital markets and can initiate proceedings against individuals or companies suspected of violating securities law or acting contrary to the public interest. They try to ensure that the investor has the correct information to invest wisely and confidently.  They investigate fraud, client/advisor relationships, fees and performance, reprimand, issue trade orders, ban individuals from acting as Directors/Officers of publicly traded companies, restrict registrations and issue monetary penalties. They also seek jail terms in quasi-criminal cases.

 

Alister stated that 1 in 20 Canadians fall victim to investment fraud and 1 in 5 are approached for potential fraud.  He said that fraud is an underreported crime as many people are too embarrassed to report the crime.  This type of fraud creates all sorts of mental and physical health issues and results in a huge cost not only to the individuals but to society as a whole.

 

He went through some examples of fraud.  One concerns Affinity Group Fraud where people are targeted through groups sharing a common interest such as sport groups or even churches. In these cases an individual targets one person and sells them on an investment and this leads to other members of the group.  Often ponzi schemes are used where one person finances the financial return to previous purchasers etc. Another scheme is called Pump & Dump – a boiler room tactic.  They target anyone with money.  Investors receive a cold call or email and are encouraged to buy an over-the-counter or penny stock.  As more and more people buy the stock the price goes up.  After the pool of potential investors has been exhausted, the stock tanks but before that the people promoting the stock have swindled the investors and they have the money in their bank. There is also the Double Dip/Repeat Scam where fraud victims are targeted. Often the list of “suckers” is sold to other scammers to try their luck.

 

He provided warning sign of potential fraud – high pressure sales tactic – act now before a certain time; watch out for a phone call or email from someone you don’t know.  Also, watch out for schemes with a high return for little apparent risk.  Watch out for schemes that are meant to recruit family and friends. An unregistered seller is another one – always ask for proof of a seller’s credentials. Sellers who suggest falsifying financial information is another alert indicator.  Also watch out for tax avoidance schemes. Watch out for salesmen reporting that a company is about to be listed on an exchange and now is the time to get in on this one time opportunity.

In conclusion, my interpretation of what he was saying is, before you invest, investigate – the person doing the selling, what he is selling, the apparent and actual risk and most importantly when can I sell.

 

Peter Thoem thanked Alister for his presentation and presented him with our usual Certificate of thanks.