ASC Seeking Permanent Cease Trade Order Against Saxon Consultants, Merchant Capital Markets and Meisner Corporation



    CALGARY, Sept. 27 /CNW/ - The Alberta Securities Commission (ASC) has
scheduled a hearing for October 12, 2007 to consider whether to impose a
reciprocal order against Saxon Financial Services Ltd., Saxon Consultants,
Ltd., Merchant Capital Markets S.A. and Meisner Inc. S.A. (collectively, the
Respondents) for their activities in New Brunswick.
    In the Notice of Hearing, ASC staff seek an order in Alberta similar to
those orders made on July 27, 2007 and August 2, 2007 by the New Brunswick
Securities Commission (NBSC), which prohibits the Respondents from trading in
securities or using exemptions in New Brunswick. The NBSC order was based on
findings that the Respondents had:

    
    -   persistently and aggressively solicited Canadian residents to open
        investment accounts with respect to gasoline and foreign exchange
        options;

    -   made false or misleading representations of large returns on
        investments; and

    -   failed to register with the NBSC in any capacity.
    

    ASC staff alleges that in 2006 and 2007 some or all of the Respondents
attempted to conduct trades in securities with Alberta residents.
    A copy of the Notice of Hearing is available 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.





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, (403) 297-4296, Toll Free 1-877-355-4488


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890