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News Release - February 18, 2010 TEMPORARY CEASE TRADE ORDER ISSUEDSaskatchewan Financial Services Commission issued a Temporary Cease Trade Order on February 17, 2010, against a Panama-based company, Option One International, also know as Option One International Advisors, Option One SA ("Option One") and its representative, Don Branson. The order expires on March 3, 2010, and may be extended. The order directs Option One and Branson to cease trading and advising in securities and exchange contracts and removes the ability to use any exemptions in Saskatchewan. The Securities Division has information that representatives of Option One, including Branson, are contacting Saskatchewan residents for the purpose of trading in options of heating oil and natural gas. Neither Option One nor Branson is registered in Saskatchewan to trade or give advice about securities. The company operates a website at www.optiononeinternational.com. On the website the company claims it is an offshore commodity option investing and foreign exchange trading company, and holds itself out as being based in Tumba Muerto Cludad De Panama, Republic of Panama. On May 26, 2009 the Swedish Financial Supervisory Authority issued a warning against Option One International for not being authorized to provide financial services as the company representatives had been contacting investors in Sweden. The British Colombia Securities Commission has also issued a Temporary Order and Notice of Hearing against Option One. "This company appears to be operating illegally in Saskatchewan in a manner similar to several other Panamanian companies we have already cease traded for the same reasons," Securities Division Deputy Director Ed Rodonets said. "We are soliciting the assistance of the authorities in a number of Central American countries to help deal with this activity, however it is up to investors to exercise due diligence and check out these companies prior to investing." Anyone contacted by Option One, Branson or any other representative of any of the named companies, should contact the Saskatchewan Financial Services Commission, Securities Division at 306-787-5645. -30- For more information, contact:
Ed Rodonets |
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