CALGARY, June 26 /CNW/ - The Alberta Securities Commission (ASC) has
issued an Interim Cease Trade Order against Sellars Financial Inc., Robert
John Sellars and Penny Jean Sellars based on allegations by ASC staff that the
named parties engaged in an illegal distribution of Sellars Financial Inc.
securities and that Robert John Sellars failed to comply with an ASC trading
The Interim Cease Trade Order is in effect for 15 days and prohibits
Sellars Financial Inc., Robert John Sellars and Penny Jean Sellars from
trading in any securities or relying on any Alberta securities laws
exemptions. The ASC has also issued a Notice of Hearing in which ASC staff
- between 2001 and 2009, the named parties illegally raised in excess of
$30 million from more than 250 Alberta investors without registration
or a prospectus, and without use of permitted exemptions;
- the named parties illegally traded and distributed securities of
Sellars Financial Inc. in Alberta; and
- Robert John Sellars failed to comply with a November 28, 2006 ASC
decision that prohibited him from trading in or purchasing securities
for two years.
The next appearance has been scheduled for 1:30 p.m., July 7, 2009 in the
ASC Hearing Room on the 6th Floor, 300 - 5th Avenue S.W., Calgary, Alberta. At
that time, an ASC panel will consider extending the interim order.
A copy of the Interim Cease Trade Order and the Notice of Hearing can be
found at www.albertasecurities.com.
The ASC is the regulatory agency responsible for administering the
province's securities laws. It is entrusted with fostering a fair and
efficient capital market in Alberta and protecting investors. As a member of
the Canadian Securities Administrators, the ASC works to improve, coordinate
and harmonize the regulation of Canada's capital markets.
For further information:
For further information: For Media Inquiries: Mark Dickey, Senior
Communications Advisor, (403) 297-4481; For Investor Inquiries: ASC Public
Inquiries, Toll Free 1-877-355-4488