The Saskatchewan Financial Services Commission has issued Temporary Cease Trade Orders against three central American firms doing business in Saskatchewan without registration. The firms named by the SFSC are Arial Trading LLC, Meridian Investment Group S.A. and Hartford Capital Management S.A.

Arial Trading, based in San Jose, Costa Rica, holds itself out as an international investment advisory firm, the commission says. Three men, acting on behalf of Arial, have solicited investments in oil and gas options and attempted to obtain money from residents of Saskatchewan through telephone and e-mail canvassing. None of the men have been or are registered to trade in securities or act as advisors in Saskatchewan, and have contravened provincial registration requirements, it reports.

Meridian Investment Group is also based in San Jose, Costa Rica. It describes itself as a leading international investment advisory firm created with the objective of offering specialized financial services and wealth management solutions tailored to meet personal objectives, the SFSC reports.

Two men acting for Meridian have solicited investments in gold and silver options and attempted to obtain money from residents of Saskatchewan through telephone and e-mail canvassing, the SFSc says. Neither man has been, or is, registered to trade in securities or act as advisors in Saskatchewan, and they have contravened provincial registration requirements it says. One of the men is already the subject of a CTO issued in July 2006 against Wellington Trading Group S.A.

Finally, Hartford Capital Management, based in Panama City, Panama, holds itself out to be an international wealth management and consulting firm. A man acting for Hartford has solicited investments in gold, oil, and other commodity options from Saskatchewan residents by telephone and e-mail, the commission says. He is also not registered to trade securities or act as an advisor in Saskatchewan, and is in breach of provincial registration requirements.