TORONTO, Jan. 30, 2012 /CNW/ - The Ontario Securities Commission (OSC) is alerting investors not to purchase securities from Morgan Dragon Development Corp., or its principals John Cheong and Herman Tse.
Effective January 27, 2012, a Director of the OSC suspended the registration of Morgan Dragon Development Corp., Mr. Cheong, and Mr. Tse. A suspension means that Morgan Dragon Development Corp., Mr. Cheong, and Mr. Tse may no longer sell securities to investors.
The decision to suspend the registration of Morgan Dragon Development Corp., Mr. Cheong, and Mr. Tse was communicated orally during proceedings held at the offices of the OSC on Friday, January 27, 2012. It is anticipated that written reasons for the decision will be prepared and published on the OSC website.
If you have any questions or information relating to this matter, please contact the OSC Contact Centre at 416-593-8314 or toll free at 1-877-785-1555.
Under section 28 of the Securities Act (Ontario), a Director of the OSC may suspend the registration of an individual or a firm if the Director has serious concerns about their continued fitness for registration, or if the Director determines that it is no longer in the public interest that they be registered.
The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices and to foster fair and efficient capital markets and confidence in capital markets. Investors are urged to check the registration of any person or company offering an investment opportunity and to review the OSC's investor materials available at www.osc.gov.on.ca.
For further information:
|For Media Inquiries:||Wendy Dey|
|Director, Communications & Public Affairs|
|Manager, Public Affairs|
|Media Relations Specialist|
|For Investor Inquiries:||OSC Contact Centre|
|1-877-785-1555 (Toll Free)|