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Screenshot of a breaking news alert e-mail from Q2 2017
The Nova Scotia Securities Commission (NSSC) just issued a warning that Ashford Investments is not registered to sell securities in Nova Scotia.
At least one Nova Scotia investor has lost money investing with the company. The investor was intending to do business with Quantum Code and his credit card was charged by Ashford Investments. Both Quantum Code and Ashford Investments are companies soliciting the sale of binary options to Nova Scotians, and neither are registered to sell securities in Nova Scotia.
On Sept. 28, 2017, the commission announced a new law making it illegal to advertise, offer, sell or otherwise trade binary options with a timeframe shorter than 30 days. Binary options take the form of a wager in which investors bet on the performance of an underlying asset, often a currency, commodity, stock index, or share. The timeframe on this bet is typically very short, sometimes hours or even minutes. When the time is up, the investor either receives a predetermined payout or loses the entire amount.
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.