The Alberta Securities Commission (ASC) has extended an interim cease trade order against Lethbridge businessman Robert Michael Smylski and Smylski Consulting Services Ltd., which operates under the name Money Solutions.

The interim cease trade order prohibits Smylski and Money Solutions from trading in any securities and using Alberta securities laws exemptions. The interim cease trade order remains in effect until a hearing into this matter is concluded and a decision rendered or unless otherwise ordered by the ASC.

The interim cease trade order was issued on February 20, after an ASC panel heard evidence from ASC staff that Smylski and Money Solutions sold securities to Alberta investors without registration and without a prospectus or an appropriate exemption, and that Smylski made prohibited, misleading and untrue representations to Alberta investors.

IE