CALGARY, Sept. 10 /CNW/ - The Alberta Securities Commission (ASC) is
seeking to reciprocate an Ontario order against Alberta registrants Adrian
Samuel Leemhuis and ASL Direct Inc., as well as British Virgin Island based
fund companies, Future Growth Group Inc., Future Growth Fund Limited, Future
Growth Global Fund Limited, Future Growth Market Neutral Fund Limited, and
Future Growth World Fund.
ASC staff allege that the above parties have traded or acted in
furtherance of a trade in the Future Growth Funds in Alberta without being
registered with the ASC or filing a prospectus, as required under Alberta
The named parties are subject to April 22 and May 1, 2008 Ontario
Securities Commission (OSC) temporary orders that have been extended to
October 27, 2008. The orders prohibit the named parties from trading in all
securities and the trading of Future Growth Funds securities, with an
exception that permits Marvin & Palmer Associates, Inc. to trade Future Growth
Fund Limited and Future Growth Global Fund Limited securities.
It is anticipated that an ASC panel will consider this matter in October
A copy of the Notice of Application outlining the allegations in their
entirety 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: Mark Dickey, Senior
Communications Advisor, (403) 297-4481; For Investor Inquiries: ASC Public
Inquiries, Toll Free 1-877-355-4488