Securities regulators flag Affiliated Trade Group

first_img Keywords Investor protection,  Investment scamsCompanies Alberta Securities Commission, Ontario Securities Commission Related news Retail trading surge on regulators’ radar, Vingoe says OSC finalizes DSC ban Facebook LinkedIn Twitter James Langton The Ontario Securities Commission (OSC) is warning investors about an unregistered firm using phony documents and aggressive sales tactics as part of their investment scheme.“The Affiliated Trade Group is disseminating a fake document suggesting it has received exemptive relief,” says the OSC in an alert published Wednesday. “In fact, Affiliated Trade Group has never filed an application for exemptive relief, or been granted any discretionary relief under securities legislation in Ontario, nor has it ever been registered as a reporting issuer in the province, the OSC says.The Alberta Securities Commission (ASC) published its own alert earlier this month about the company, which claims to have operations in Calgary, Costa Rica, Japan and Switzerland.In its alert, the ASC says “red flags” that are “common to illegal investment schemes” appear in the company’s promotions and sales techniques, including a lack of registration, “suspicious” contact information and the use of high-pressure sales tactics.Potential investors have been threatened with legal action, or arrest, if they do not go along with the scheme being touted by the firm, the ASC says. Don’t believe the hype: BCSC proposes new rules for stock promoters Share this article and your comments with peers on social media red warning flag on a stormy beach kmiragaya/123RFlast_img read more