NASD Issues Alert
On Tuesday the NASD issued an alert regarding financial scams to all non-U.S. investors. These “sophisticated investment scams use phony “regulator” Web sites and fake broker identities to prey on investors unfamiliar with U.S. securities products, markets and regulations. These scams target individuals in countries such as Australia, New Zealand, South Africa and elsewhere, who have lost money in a previous investment deal and are eager to reverse their losses.” You can read the full press release at the NASD site.