Investor Warnings Securities
Montréal – The Autorité des marchés financiers (AMF) is issuing a public warning about the activities carried out by Universal Networks whereby Québec investors are being solicited by telephone for the purchase of shares in the firm.
Located in the region of New York, the firm contacts potential investors, stating that they will soon have a NASDAQ listing and that shares in the firm are expected to generate returns of 300% to 700%. This firm is not registered with the AMF.
The AMF wishes to stress that investments in financial products or instruments that have not been authorized for distribution in Québec are not covered by any investor protection and that recourses available to investors may be complex.
Investors are therefore advised to be very cautious with respect to such solicitations.
The AMF recommends the utmost caution with respect to any telephone calls from a Ms. Angel Davis or any other person promoting investments in the firm.
The AMF reminds investors of the following general comments:
- Always be very careful with proposals for financial products or services made by telephone, over the Internet, via unsolicited e-mail or even through regular mail sent to your home address.
- Ask yourself why a person would make an unsolicited call for an investment proposal.
- Ask the person who is calling and proposing an investment to give you his contact information and terminate the conversation if the person refuses to do so.
- Before making a decision, make sure the firm or representative that is proposing a product is registered with the AMF and the product is authorized for distribution. This can be confirmed by contacting the AMF.
- Gather as much information as possible before disbursing any funds for investment purposes, regardless of the person promoting the investment.
- Be extra careful if the product being offered or the expected investment return seems too good to be true. Don’t be carried away with flashy promises.
More information is available from the AMF brochure titled “Watch out for securities fraud.” It will help you recognize fraudulent tactics. It also provides tips for avoiding fraud.
As well, to guide you through the complex world of financial products and services, consult our other brochures on the subject of saving and investing. You can find them on the AMF website in the section "You are a consumer" and under “Making Informed Investment Choices”, or phone our Information Centre at 1-866-526-0311.
The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec's financial sector.
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Frédéric Alberro (514) 940-2176
Financial sector participants: (877) 525-0337, choose option 9 for English, then 1 for industry
Consumers and investors: (877) 525-0337, choose option 9 for English, then 8 for consumers