TORONTO, Sept. 12, 2011 /CNW/ - In a decision released today, an Ontario
Securities Commission panel issued its reasons supporting the issuance
of a temporary cease trade order against Alexander Christ Doulis (aka
Alexander Christos Doulis, aka Alexandros Christodoulidis) ("Doulis")
and Liberty Consulting Ltd. ("Liberty").
The Temporary Order relates to allegations brought by Commission Staff
that, between January 1, 2004 and September 2010, Doulis and Liberty
advised in securities without registration, contrary to the Securities Act (Ontario). Staff have also alleged that Doulis misled Staff during
their investigation of his conduct.
The Commission panel found that, "it appears to us that Doulis is giving
investment advice to the Ontario Clients and that they are paying him
for that advice, although indirectly, through Liberty."
The panel's decision reaffirmed the principle that "the Act's
requirements for registration are critical to the Commission's ability
to protect investors and ensure that those who participate in Ontario's
capital markets on behalf of investors meet the required standards for
proficiency, solvency and integrity."
A Statement of Allegations in this matter was issued on January 14,
2011, and is available on the OSC website at www.osc.gov.on.ca. A hearing on the merits will be scheduled.
SOURCE Ontario Securities Commission
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