Investors should avoid making sudden and uninformed decisions amid the volatility and unprecedented turmoil in the stock market, the Nova Scotia Securities Commission cautioned today, Oct. 9. “We know from past experience that con artists follow the headlines to prey on the worries and fears of everyday investors,” said Bill Slattery, acting director of the Nova Scotia Securities Commission. “With the current economic situation we are concerned that scammers are gearing up to promote various investment schemes with promises of big returns. If history is any guide, these investments will be worthless.” Mr. Slattery urged investors to make informed decisions about long-term financial holdings and to seek the advice of a trusted investment adviser or financial planner before making sudden moves with money. “Investors should be wary of unsolicited financial advice or investment opportunities,” Mr. Slattery said. “In times of confusion, fear and uncertainty, there are always those who will try to prey on the investing public.” The securities commission provided the following tips for investors: — Contact the commission to ensure both the seller is registered and the investment complies with securities legislation. They can also answer questions about an investment firm, professional or product. — Use common sense. Some things really are too good to be true. Get a professional, trusted third-party opinion when presented with investment opportunities that seem to offer unusually high returns in comparison with other investment options. — Request written information that fully explains the investment, such as a prospectus or offering memorandum. The documentation should contain enough clear and accurate information to allow you or your financial adviser to evaluate and verify the particulars of the investment. — If you participate in an employer-sponsored retirement plan, such as a defined contribution pension plan, get unbiased advice and guidance before making significant changes to your long-term savings and investment strategy. People who suspect they have been scammed should contact the commission at 424-7768. It could help others avoid losing money. Those with concerns about their portfolio are encouraged to talk to their financial advisers and review options that fit their risk tolerance and needs. The Nova Scotia Securities Commission was established to protect investors from unfair or fraudulent practices through regulation of the securities industry. Part of that protection is educating investors about the risks, responsibilities and rewards of investing.
Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)RelatedDuchess of Cambridge pregnant with third childSeptember 4, 2017In “Entertainment”It’s a boy! Catherine gives birth to royal babyJuly 22, 2013In “World”Taj Mahal photo of Kate, William evokes memories of Diana in 1992April 17, 2016In “World” Britain’s Prince William, Duke of Cambridge (L) and Britain’s Catherine, Duchess of Cambridge aka Kate Middleton show their newly-born son, their third child, Britain’s Prince Louis of Cambridge to the media outside the Lindo Wing at St Mary’s Hospital in central London, on April 23, 2018. (AFP)LONDON, United Kingdom — Britain’s Prince William and his wife Kate have named their baby son Louis Arthur Charles, Kensington Palace announced on Friday.“The Duke and Duchess of Cambridge are delighted to announce that they have named their son Louis Arthur Charles,” said a palace statement.“The baby will be known as His Royal Highness Prince Louis of Cambridge.”The name pays tribute to William’s great-great uncle Louis Mountbatten, who was killed by the IRA in 1979, while Charles is the name of William’s father.Arthur had been the bookmakers’ favourite for the couple’s third child.Louis is currently the 71st most popular name for a baby boy in England and Wales.He weighed eight pounds and seven ounces (3.8 kilogrammes) when he was born at 11:01 am (1001 GMT) on Monday with William, the Duke of Cambridge, present for the birth.Louis is a sixth great-grandchild for Queen Elizabeth, who turned 92 on Saturday, and her husband Prince Philip.He will hold the title of prince after the Queen changed the rules in 2012 to ensure that all of William’s children would be entitled to the style, not just his eldest son.Prince Louis is also the first male royal who will not overtake his sister in the line of succession after a reform that ends male primogeniture. (Excerpt from AFP)