You've Been Warned: No Value in Old GM

Trading in the shares of old General Motors, now known as Motors Liquidation Co. , is slated to restart Wednesday, but regulators are warning investors that the shares have no value.

In a notice titled, "Investing in a Bankrupt Company: A High Risk Venture," the Financial Industry Regulatory Authority, or Finra, and the Securities and Exchange Commission said trading in the shares, which was halted Friday, will restart on Wednesday.

Finra said it halted trading because it perceived "a potential widespread misunderstanding that the trading in this security may have been related to interests in the new General Motors," which in fact doesn't trade publicly. The misperception "may have the potential to cause major disruption to the marketplace and/or significant uncertainty in the settlement and clearance process," the agency said. ...