A panel of the Financial and Consumer Services Tribunal has issued a cease trade order against A25 Gold Producers Corp. and James Stuart Adams for violations of the Securities Act.
The order was issued following a recent hearing before the tribunal. It reciprocates an order previously granted by the Ontario Securities Commission, in which A25 Gold Producers Corp. and Adams admitted to selling securities from Ontario through unregistered trading and illegal distributions to an investor in Canada and investors in Europe. There has been no allegation that any New Brunswick resident invested money with the corporation or Adams.
The order requires that the trading in any securities or derivatives of A25 Gold Producers Corp. cease permanently. It also permanently prohibits the corporation from trading in securities or derivatives, acquiring securities, or becoming or acting as a registrant, mutual fund manager or promoter. The order also requires Adams to resign all positions that he holds as a director or officer of any issuer, and prohibits Adams from trading or acquiring securities for five years. Adams is also ordered not to act as a registrant, mutual fund manager, or a promoter, until March 5, 2020.
A25 Gold Producers Corp. was incorporated in British Columbia and operated out of Toronto. Adams was president of the corporation and is also the director of Touchstone International Business Services (New Brunswick) Ltd., a company registered in New Brunswick.
The order, and the reasons for the decision, is available online.
The Financial and Consumer Services Commission (FCNB) has the mandate to protect consumers and enhance public confidence in the financial and consumer marketplace through the provision of regulatory and educational services. Being an informed investor is the best defence against investment fraud. New Brunswickers are encouraged to become informed investors by using FCNB’s free online resources.
Hearing from New Brunswickers about suspicious financial and investment activity early is integral to combatting fraud. Please contact FCNB at 1 866 933-2222 for more information, to make a complaint or to express other related concerns.
The Financial and Consumer Services Commission has the mandate to protect consumers and enhance public confidence in the financial and consumer marketplace through the provision of regulatory and educational services. It is responsible for the administration and enforcement of provincial legislation that regulates the following sectors: securities, insurance, pensions, credit unions, caisses populaires, trust and loan companies, co-operatives, and a wide range of other consumer legislation. It is an independent Crown corporation funded by the regulatory fees and assessments paid by the regulated sectors.