Nova Scotia Securities Commission alerting investors that Shtern Group is not registered
The Nova Scotia Securities Commission is alerting investors that Shtern Group is not registered to sell securities in the province.
Shtern Group claims to be an online trading service provider located in Malta.
The commission says at least one investor was contacted by Shtern Group representatives via telephone and encouraged to invest in binary options.
The investor lost money as a result.
Stephanie Atkinson, senior enforcement counsel with the commission, says cold calling is a common practice for fraudsters, adding people should hang up the phone and always take time to check registration.
The commission is the provincial government agency responsible for regulating the investment industry in Nova Scotia.