A North Battleford individual was hit with a temporary cease trade order March 12 from the Financial and Consumer Affairs Authority of Saskatchewan.
The order is against Adele Kaminsky who operates a business called A.K. Financial Planning Services out of an office at 1731-100th St.
The order, which runs to March 26 but could be extended, directs Kaminsky to cease trading and advising in securities and exchange contracts and removes the ability to use any exemptions in Saskatchewan.
According to the news release issued Friday, Kaminsky was a registered mutual funds dealing representative operating under a registered dealer who had contacted investors in Saskatchewan for the purpose of trading in securities other than mutual funds.
The FCAA said they received information Kaminsky promoted and received investments in Enviro-Can Private Placement and an unidentified foreign currency fund. She is not registered in Saskatchewan to trade or give advice about securities and neither Enviro-Can nor the foreign exchange fund have been found to be registered. Information received by FCAA also indicated the funds intended for investment by individuals were placed in the personal bank accounts of Kaminsky.
According to Securities Division Deputy Director Ed Rodonets the focus is not on the mutual fund company Kaminsky worked under nor is it the licensed activity of A.K. Financial Planning Services. Rather the focus is on the outside business activities.
Anyone with information or concerns with Kaminsky in any investment activity outside of the mutual fund and insurance business are being encouraged to contact the FCAA Securities Division at 306-787-5645.
