April 9, 2010
SAINT JOHN (CNB) - A cease-trade order has been issued by the New Brunswick Securities Commission (NBSC) against Shire International Real Estate Investment Ltd., Shire Asset Management Ltd. and Jeanette Cleone Couch of Alberta.
The order bans the companies and the individual from operating in New Brunswick capital markets and state that any exemptions to New Brunswick securities law do not apply to them. The order mirrors those issued by the Saskatchewan Financial Services Commission (SFSC) and the Alberta Securities Commission (ASC) and will remain in effect under the same terms.
The SFSC and ASC orders state that the companies were issuing securities in real estate developments in Alberta and Hawaii. The companies and Couch are under investigation by the RCMP.
New Brunswickers are asked to report any telephone calls or e-mails that solicited investments in real estate developments in Hawaii Fund or Maples and White Sands Investment Ltd. to the NBSC. These companies and Couch are not registered to conduct securities-related business in New Brunswick.
Enforcement staff does not know of any New Brunswick investors in these companies. The NBSC co-operated with SFSC, the ASC and other securities regulators on this matter.
New Brunswickers are urged to report any contact by the companies or individuals listed to the NBSC at 1-866-933-2222 or by e-mail, firstname.lastname@example.org.
More information about the case in question is available at the ASC website and the SFSC website.
As an independent provincial Crown corporation, the NBSC oversees the capital markets in New Brunswick and regulates those that sell or manage securities. The NBSC is funded by regulatory fees paid of those operating in the investment industry, including public companies, mutual funds and more than 7,000 registered individuals and firms.
MEDIA CONTACT: Michelle Robichaud, communications, New Brunswick Securities Commission, 506-643-7045.