Euston and
Schwartz vs. Saskatchewan Financial Services Commission
The Euston
Capital Corp and George Schwartz have filed in the Saskatchewan Court
of Appeal a
Notice of Motion/Appeal from the
Commission's decision issued on February
9, 2006.
On February 9,
2006 the Commission issued a decision finding that the Euston
Capital Corp, George Schwartz, Charles Saks and Norman
MacLeod traded in the securities of Euston Capital Corporation
when they were not entitled to rely on the accredited investor
exemption, and therefore breached the registration and prospectus
provisions of the Act.
The Commission
ordered that Euston and Schwartz not trade in securities for a
period of ten years. Saks and MacLeod were ordered not to
trade for five years. The Commission also ordered that the
respondents pay administrative penalties and costs.
Dated March 13, 2005.
