TORONTO, Jan. 30, 2012 /CNW/ - The Ontario Securities Commission (OSC)
is alerting investors not to purchase securities from Morgan Dragon
Development Corp., or its principals John Cheong and Herman Tse.
Effective January 27, 2012, a Director of the OSC suspended the
registration of Morgan Dragon Development Corp., Mr. Cheong, and Mr.
Tse. A suspension means that Morgan Dragon Development Corp., Mr.
Cheong, and Mr. Tse may no longer sell securities to investors.
The decision to suspend the registration of Morgan Dragon Development
Corp., Mr. Cheong, and Mr. Tse was communicated orally during
proceedings held at the offices of the OSC on Friday, January 27, 2012.
It is anticipated that written reasons for the decision will be
prepared and published on the OSC website.
If you have any questions or information relating to this matter, please
contact the OSC Contact Centre at 416-593-8314 or toll free at
Under section 28 of the Securities Act (Ontario), a Director of the OSC may suspend the registration of an
individual or a firm if the Director has serious concerns about their
continued fitness for registration, or if the Director determines that
it is no longer in the public interest that they be registered.
The mandate of the OSC is to provide protection to investors from
unfair, improper or fraudulent practices and to foster fair and
efficient capital markets and confidence in capital markets. Investors
are urged to check the registration of any person or company offering
an investment opportunity and to review the OSC's investor materials
available at www.osc.gov.on.ca.
SOURCE Ontario Securities Commission
For further information:
| For Media Inquiries: || Wendy Dey |
| || Director, Communications & Public Affairs |
| || 416-593-8120 |
| || |
| || Carolyn Shaw-Rimmington |
| || Manager, Public Affairs |
| || 416-593-2361 |
| || |
| || Dylan Rae |
| || Media Relations Specialist |
| || 416-595-8934 |
| || |
| For Investor Inquiries: || OSC Contact Centre |
| || 416-593-8314 |
| || 1-877-785-1555 (Toll Free) |