The Alberta Securities Commission (ASC) has issued a cease trade order against The Investment Exchange Mortgage Corp., headquartered in Calgary.
The cease trade order was issued after ASC staff determined that firm failed to meet filing requirements under Alberta securities laws.
Although the company is not a reporting issuer in Alberta, During the period from March 2003 to July 2012, it distributed preferred shares to approximately 166 Alberta investors.
The ASC says the firm did not have an exemption from the prospectus requirements of the Securities Act, and did not file a preliminary prospectus and a prospectus for any of the distributions.
The cease trade order prohibits all trading or purchasing in respect of the securities of The Investment Exchange Mortgage Corp. until the cease trade order has been revoked or varied.