|
||
|
News Release - November 2, 2007 TEMPORARY CEASE TRADE ORDER ISSUED AGAINST HEARTFORD CAPITAL MANAGEMENTThe Saskatchewan Financial Services Commission issued a temporary order on October 31, 2007, against Heartford Capital Management (Heartford). The order directs Heartford to cease trading and advising in securities and exchange contracts. The Enforcement branch has information that representatives of Heartford are contacting Canadian residents and soliciting investments in gold options. Heartford holds itself out as an international wealth management and consulting firm operating out of Panama City, Panama, with an office in Costa Rica. Heartford is not registered in Saskatchewan to sell or give advice about securities. Heartford's web site is virtually identical to the web site operated by Hartford Capital Management, S.A. (Hartford). The Financial Service Commission issued temporary and extending cease trade orders against Hartford and Bruce White in March 2007. The March 2007 orders were issued because Hartford representatives were contacting Saskatchewan residents and offering investment opportunities in gold, oil and other commodity options. The Enforcement branch has information that Heartford is being operated by the same individuals that operated Hartford. Heartford representatives may be contacting residents of Saskatchewan to solicit investments. Anyone who is contacted by Heartford representatives is asked to contact Ed Rodonets of the Saskatchewan Financial Services Commission at 306-787-5850. The order expires on November 15, 2007, and may be extended. The Director of the Securities Division can issue a temporary cease trade order for a 15 day period as an interim measure when necessary in the public interest. The temporary order can be extended should the need arise. -30- For more information, contact: Ed Rodonets |
||