Alberta Securities Commission (ASC) is seeking to reciprocate orders imposed by the British Columbia Securities Commission (BCSC) against Genius Funds, also known as Genius Investments.

On April 7, 2010, the BCSC ordered that Genius Funds permanently cease trading in securities and engaging in any investor relations activities.

The BCSC panel based these orders on evidence that Genius Funds engaged in an illegal distribution of securities and made misrepresentations regarding offered rates of return.

ASC staff allege that Genius Funds illegally solicited investments from Alberta residents.

An ASC panel is expected to consider this application in July.