The Financial and Consumer Services Commission (FCNB) is warning investors to exercise caution before purchasing shares of Asia Pacific Gold Mining Investment Ltd. (“APGMI”). GXG Markets, a European securities market, has suspended trading in shares of APGMI pending certain questions regarding the status of the company and its share structure.
While APGMI is incorporated in New Brunswick, it appears that the bulk of the present trading in its shares is currently being effected in the secondary market by a controlling shareholder not resident in New Brunswick. Further, the trades in question do not appear to involve New Brunswick investors. FCNB cautions all investors to confirm that a proposed purchase of APGMI shares, or any other security, is compliant with the securities laws in the investor’s home jurisdiction before proceeding with the trade.
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The Financial and Consumer Services Commission has the mandate to protect consumers and enhance public confidence in the financial and consumer marketplace through the provision of regulatory and educational services. It is responsible for the administration and enforcement of Provincial legislation that regulates the following sectors: securities, insurance, pensions, credit unions, caisses populaires, trust and loan companies, co-operatives, and a wide range of other consumer legislation. It is an independent Crown Corporation funded by the regulatory fees and assessments paid by the regulated sectors.