CALGARY, March 19 /CNW/ - The Alberta Securities Commission (ASC) has extended an Interim Cease Trade Order against Genius Funds, Genius Investments and Genius Investments (Cyprus) Limited. The Order is based on allegations that they have engaged in illegal trading and distribution of securities in Alberta.
The Interim Cease Trade Order prohibits all trading in Genius Funds, Genius Investments and Genius Investments (Cyprus) Limited securities, and prohibits them from trading in any securities or relying on any Alberta securities laws exemptions. An ASC panel issued the Interim Cease Trade Order after hearing evidence from ASC staff that Genius Funds, Genius Investments and Genius Investments (Cyprus) Limited are dealing in and trading in securities to Albertans without registration, a prospectus or use of an applicable exemption.
The British Columbia Securities Commission has also issued a temporary order prohibiting the Cyprus-based company from trading any securities or engaging in any investor relations activities in British Columbia. In addition, securities commissions in Cyprus and New Brunswick have issued warnings to investors about Genius Investments.
The Interim Cease Trade Order will remain in effect until the hearing of the matter is concluded and a decision is rendered, unless otherwise ordered.
Copies of the Extended Interim Cease Trade Order, Interim Cease Trade Order and Notice of Hearing related to this case can be found at www.albertasecurities.com.
The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted to foster a fair and efficient capital market in Alberta and to protect investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.
SOURCE Alberta Securities Commission
For further information: For further information: For Media Inquiries: Tamera Van Brunt, Director, Communications and Investor Education, (403) 297-2664; For Investor Inquiries: ASC Public Inquiries, Toll Free 1-877-355-4488