The Nova Scotia Securities Commission is alerting investors that International Commodities Group is not registered to sell securities in Nova Scotia.
The company and its representatives have solicited at least one Nova Scotia resident by telephone to invest in gold options, who invested $5,000 U.S.
“Nova Scotians need to be vigilant about protecting their finances,” says Heidi Schedler, senior enforcement counsel with the commission. “Cold calling is a common practice for fraudsters. Don’t fall prey to these high-pressure sales tactics.
“Hang up the phone, check to make sure this person and company are registered, and get a second opinion.”
The commission urges Nova Scotians to exercise extreme caution when dealing with firms that are not registered in Nova Scotia. It is illegal to solicit investments in Nova Scotia without registering with the commission and complying with Nova Scotia securities laws. To see if a company or person is registered, you can check the Canadian Securities Administrators’ National Registration Search, or at www.aretheyregistered.ca.
If you have been contacted by a representative from International Commodities please contact the commission. Nova Scotians can always contact the commission to report any scams, or what they believe to be suspect or suspicious behavior from anyone offering investment opportunities.
The Nova Scotia Securities Commission is the provincial government agency responsible for regulating the investment industry in the province.