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Aug 03, 2016
CALGARY – August 3, 2016 – The Alberta Securities Commission (ASC) is warning Alberta investors to exercise caution if solicited by Bristol Financial (Offshore) LLC (Bristol), a purported investment firm with offices in New York, NY and Luxembourg, Belgium. To date, Alberta investors have reported investing more than $2,000,000 with Bristol and, after repeated requests, being unable to recoup their money.
The public should be aware that Bristol is not registered to sell securities or derivatives in Alberta, is not registered to do business 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 Bristol’s promotions:
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: www.aretheyregistered.ca.
The RCMP has requested the ASC to ask anyone approached by Bristol to contact their local RCMP detachment.
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.
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For more information:
For Media Inquiries:
Nicole Tuncay Senior Communications Advisor 403-297-4008
For Investor Inquiries:
ASC Public Inquiries Toll Free: 1-877-355-4488