CALGARY, Feb. 23 /CNW/ - The Alberta Securities Commission (ASC) has further extended an Interim Cease Trade Order (ICTO) issued against Focused Money Solutions Inc. and Victor George DeLaet. The ICTO is based on allegations that Focused Money Solutions and DeLaet have made untrue or misleading statements to investors.
The ICTO prohibits all trading in Focused Money Solutions securities and prohibits Focused Money Solutions and DeLaet from trading in securities or relying on Alberta securities laws exemptions.
The ICTO will remain in effect until Focused Money Solutions and DeLaet provide additional information to the ASC panel. At that time, the ASC panel will make a further determination concerning whether it is in the public interest to extend the ICTO.
Copies of the ICTO and Notice of Hearing in this case can be found on the ASC website 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 & Investor Education, (403) 297-2664; For Investor Inquiries: ASC Public Inquiries, Toll Free 1-877-355-4488