The Canadian Securities Administrators (CSA) today issued an Investor Watch urging the public to ignore and delete spam e-mails that promote investment opportunities.

“Consider the motivation of the people behind these e-mails. If they don’t know you or your investment objectives, how can they have your best interests in mind?” asks Jean St-Gelais, chairman of the CSA and president & CEO of the Autorité des marchés financiers. “The CSA encourage investors to take steps to get informed before they invest.”

Investors should be wary of unsolicited e-mails that promote specific stocks. They may promote microcap companies, which often have limited assets and trade on markets with few listing standards. Many microcap stocks trade in over-the-counter (OTC) markets, and are quoted on systems like the United States OTC Bulletin Board and the Pink Sheets. These markets have very few listing requirements, and in some cases are not recognized or regulated by securities regulators.

The full Investor Watch is posted on the CSA Web site.