OSC warns against Anchor Securities

The Ontario Securities Commission (OSC) is alerting investors not to purchase securities from Anchor Securities Limited or its principal, Martin Donald Heppner.

Effective August 26, 2011, the OSC suspended the registration of Anchor Securities Limited and of Heppner. A suspension means that Anchor Securities Limited and Heppner may no longer sell securities to investors.

The decision to suspend the registration of Anchor Securities Limited and of Heppner was communicated orally during proceedings held at the offices of the OSC on Friday, August 26, 2011. It is anticipated that written reasons for the decision will be prepared and published on the OSC website.

If you have any questions or information relating to this matter, please contact the OSC Contact Centre at 416-593-8314 or toll free at 1-877-785-1555.

Under section 28 of the Securities Act (Ontario), the OSC may suspend the registration of an individual or a firm if we have serious concerns about their continued fitness for registration, or if we determine that it is no longer in the public interest that they be registered.

The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices and to foster fair and efficient capital markets and confidence in capital markets. Investors are urged to check the registration of any person or company offering an investment opportunity and to review the OSC’s investor materials available at www.osc.gov.on.ca.

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.