Ananova:

A financial services firm has been branded 'opportunist' for sending junk mail to thousands of people within days of the US terror attacks.

People who complained about the mail from Hargreaves Lansdown Asset Management Ltd said it was "shameless, disgusting and offensive".

The Advertising Standards Authority said it behaved in an opportunist fashion for suggesting it was wise to sell shares for fear of a worldwide recession.

Around 400,000 people received the direct mailing from the Bristol-based firm shortly after the attacks under the heading: "What Now? America Under Attack".

It also stated that it was only American consumers who were helping to sustain the worldwide economy, and that spending "must decline".

The first of 13 complaints from across the country was received by the ASA on September 15 - four days after the terrorists struck.

The complaint condemned the advertisement because it "attempted to use a tragedy as a tasteless marketing ploy and gave no regard to those who had lost their lives".

In addition, it said it could "cause distress because it may have been sent to people who had lost friends and relatives in the World Trade Centre tragedy".

Asked to respond to the complaints, the company said the mailing was sent based on the activities of the stock market and calls from clients.

It said its aim was "to give clients their thoughts on the immediate aftermath of the event and to indicate what practical steps they could take to protect their investments".

Story filed: 02:51 Wednesday 19th December 2001

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