CALGARY, Aug. 3 /CNW/ - The Alberta Securities Commission (ASC) has
issued an interim cease trade order against Saxon Financial Services Ltd.,
Saxon Consultants, Ltd., Merchant Capital Markets S.A., Meisner Inc. S.A. and
Meisner Incorporated. These companies have also been carrying on business as
Merchantmarx and Meisner Corporation.
Saxon Financial Services Ltd. is not connected to Saxon Financial Inc.
(SFI), a TSX traded financial management company with a similar name.
The interim cease trade order is in effect for 15 days and prohibits the
companies listed above from trading in any securities or exchange contracts,
disseminating any information or advice to the public relating to investing,
buying or selling securities, and denies them all exemptions contained in the
Alberta securities laws. The ASC issued the interim cease trade order after
hearing evidence from ASC staff that the named companies had sold securities
without registration. A similar trading ban has also been issued in New
Brunswick, Ontario and Saskatchewan.
The next appearance in this proceeding has been scheduled at 8:30 am,
August 16 in the Alberta Securities Commission Hearing Room on the 6th Floor,
300 - 5th Avenue, Calgary, Alberta to consider whether this order will be
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