The Alberta Securities Commission (ASC) has banned trading in or purchasing of securities of CMKM Diamonds, Inc. and denied the company the use of any Alberta securities laws exemptions indefinitely until otherwise ordered by the ASC.
An ASC panel issued the reciprocal order after determining CMKM, a Texas corporation, traded its shares to Alberta investors without complying with Alberta securities laws.
The order reciprocates orders previously issued by the Saskatchewan Financial Services Commission, Securities Division (SFSC), and the Manitoba Securities Commission (MSC).
On Nov. 9, 2004, the SFSC issued an order banning trading and the use of exemptions by CMKM until further ordered by the SFSC. The SFSC referred to indications that CMKM: traded in securities without registration, a prospectus, or evidence of registration and prospectus exemptions; and made misrepresentations with the intention of effecting trades.
On Oct. 31, 2007, the MSC issued a reciprocal order based on the SFSC order.
Both the SFSC and the MSC orders remain in effect.
ASC issues trading ban against CMKM Diamonds
- By: IE Staff
- May 16, 2008 May 16, 2008
- 11:40