ASC warns public about Affiliated Trade Group
CALGARY –– The Alberta Securities Commission (ASC) is warning Alberta investors to be cautious if solicited by Affiliated Trade Group, a purported investment claiming to have locations in Calgary, Costa Rica, Japan and Switzerland.
The public should be aware that Affiliated Trade Group is not registered to sell securities or derivatives in Alberta, and that its actions are not in compliance with Alberta securities laws.
There are several “red flags” common to illegal investment schemes present in Affiliated Trade Group’s promotions and sales techniques, including:
· Lack of registration. Any firm or individual selling securities in Alberta generally must be registered with the ASC.
· Suspicious contact information. No company by the name “Affiliated Trade Group” maintains offices at the address provided on its website. Further, what appears to be a Calgary phone number listed on the website is linked to a voice over internet protocol (VOIP) provider in Florida where only messages can be left. Additional phone numbers are either not in service or not answered.
· High-pressure sales techniques. Albertans have reported that the Affiliated Trade Group’s “Director of Sales” has threatened legal action or arrest to prospective investors if they do not go along with the scheme.
If you are considering an investment opportunity through a company that is not registered, be sure to understand whether the company is complying with applicable securities laws. The ASC encourages all investors to check the registration status of any person or company selling investments to Canadians using the Canadian Securities Administrators’ National Registration Search database:
|The ASC is the regulatory agency responsible for administering the province’s securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada’s capital markets.|