Genius Funds’ trading has been banned in Canada

Ecommerce-Journal continues observing the situation around investment company Genius Funds. On March 10th Canadian province Alberta banned the business activity of the online investment company on the grounds of illegal trading.

On the official website of the Alberta Securities Commission (ASC) readers can find an Interim Cease Trade Order against Genius Funds, Genius Investments and Genius Investments (Cyprus) Limited.

The Interim Cease Trade Order which comes into effect on March 24th prohibits all trading in Genius Funds, Genius Investments and Genius Investments (Cyprus) Limited securities. The order also prohibits Genius Funds, Genius Investments and Genius Investments (Cyprus) Limited from trading in any securities or relying on any Alberta securities laws exemptions. An ASC panel issued the Interim Cease Trade Order after hearing evidence from ASC staff that Genius Funds, Genius Investments and Genius Investments (Cyprus) Limited are dealing in and trading in securities to Albertans without registration, a prospectus or use of an applicable exemption.