Following the last Tuesday’s terrorist attacks in New York and Washington D.C., the Alberta Securities Commission is warning investors to be on the lookout for opportunistic scams that my result.
Cold-calling telephone salespeople, advertisements, or Internet postings that promote commodities, exotic financial products, or supposed anti-terrorist technologies should be a red-flag for investors, says the commission.
“There are people and organizations who will use last week’s tragic events to try to manipulate investors,” says Wayne Alford, ASC Director of Enforcement. The ASC recommends investors put off making hasty decisions about, and suggests investors discuss their options with their financial advisors.
The ASC also recommends that investors request written information that fully explains the investment, such as a prospectus or offering memorandum.