New Brunswick Securities Commission

Investor alert: Intercontinental Trading Group S.A., Ron Wallace and Gary McCory (09/11/06)

NB 1756

Nov. 6, 2009

SAINT JOHN (CNB) - A temporary order against Intercontinental Trading Group S.A., Ron Wallace and Gary McCory has been issued by the New Brunswick Securities Commission (NBSC).

At an ex-parte hearing held on Nov. 3, a panel of the NBSC ordered that Intercontinental Trading Group S.A., Wallace and McCory cease trading in securities in New Brunswick, and that for a period of 15 days, all exemptions do not apply. A hearing will be held on Nov. 18 to determine whether the temporary order should be made permanent.

NBSC staff allege that Wallace and McCory solicited New Brunswick residents by telephone and e-mail to trade in options for heating oil. Neither is registered to sell securities in New Brunswick. Intercontinental Trading Group S.A. claims to be based out of Panama City, Panama.

NBSC staff also allege that Intercontinental Trading Group S.A. is related to other Panama-based boiler room operations, including Hartford Capital Management, also known as Heartford Capital Management, which was banned by the Saskatchewan Financial Services Commission in 2007.

"To stop investment fraud we need to know where and when it's happening," said Rick Hancox, executive director of the NBSC. "Suspicions about investment fraud should be reported to us. We will investigate all concerns to prevent New Brunswickers from being victimized."

Any New Brunswicker who has had recent financial dealings with, or has been approached by, Intercontinental Trading Group S.A., Wallace or McCory, is urged to contact the NBSC at 1-888-933-2222, or by e-mail at info@nbsc-cvmnb.ca.

The New Brunswick Securities Commission is the Crown corporation that regulates the securities industry in New Brunswick. It is funded indirectly by investors through industry. Its mandate is to protect investors from unfair, improper or fraudulent practices, and to foster fair and efficient capital markets, as well as confidence in those markets.

09/11/06

MEDIA CONTACT: Michelle Robichaud, communications officer, New Brunswick Securities Commission, 506-643-7045.

09/11/06