Government of Saskatchewan ministries, Crown corporations and organizations are working to minimize the impacts of the postal service disruption.
Les ministères, les sociétés d’État et les organismes du gouvernement de la Saskatchewan travaillent à réduire au minimum les répercussions de l’interruption des services postaux.
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Released on January 31, 2008
The Securities Division of the Saskatchewan Financial Services Commission issued a temporary cease trade order on January 29, 2008, against Harrington Rose Equity Management (Harrington Rose) and its representative, Mark Goldman (Goldman). The order expires on February 12, 2008, and may be extended.
The order directs Harrington Rose and Goldman to cease trading and advising in securities and exchange contracts.
The Securities Division has information that representatives of Harrington Rose, including Goldman, are contacting Saskatchewan residents to exchange shares of large exchange traded companies for shares of unlisted companies owned by the residents. As part of the exchange, the Saskatchewan residents are to transfer thousands of dollars to bank accounts outside Canada, including Cyprus and Malaysia, to make up the difference in value of the exchanged shares.
Harrington Rose is not registered in Saskatchewan to sell or give advice about securities. The company operates a web site at www.hrmequity.com. Harrington Rose holds itself out as a company that specializes in assisting small and medium size companies to raise capital and market their securities to the investment community.
"Harrington Rose's web site is virtually identical to the web site operated by Gordon Equity Management Ltd. (Gordon Equity)," Enforcement branch head Ed Rodonets said.
In May 2007, the Director of the Securities Division issued temporary and extending cease trade orders against Gordon Equity, Paul Thomas and Vince Gold. Gordon Equity representatives were contacting Saskatchewan residents and offering to exchange shares of large exchange traded companies for shares of unlisted companies owned by the residents. As part of the exchange, the Saskatchewan residents were to transfer thousands of dollars to bank accounts outside Canada, including Cyprus and Malaysia, to make up the difference in value of the exchanged shares.
The Securities Division believes that Harrington Rose is being operated by the same individuals that operated Gordon Equity. Therefore, in the public interest the Director has issued the temporary cease trade order against Harrington Rose.
Anyone who is contacted by Harrington Rose, Mark Goldman or any of its other representatives is asked to contact Ed Rodonets of the Saskatchewan Financial Services Commission at 306-787-5850.
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For more information, contact:
Ed Rodonets
Saskatchewan Financial Services Commission
Regina
Phone: 306-787-5850
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