News Release

Vancouver - The British Columbia Securities Commission has reprimanded a Richmond, B.C. exchange contracts dealer and its chief financial officer for compliance failures including filing misleading financial information to the regulator.

Quantum Financial Service (Canada) Ltd. and Phillip Moy, Quantum’s CFO, have reached a settlement with the BCSC in which the firm will pay $50,000 and must file, over a one-year period, monthly reports of its risk-adjusted capital along with financial records to the BCSC.

Moy has agreed to not prepare, approve or file any information or record that Quantum is required to prepare or file under securities regulations for a two-year period. He cannot act as an officer or director of any issuer whose primary business is trading in or advising on securities or exchange contracts for at least two years.

The settlement was reached after Quantum and Moy admitted to compliance failures during a period from 2001 to June 2005 relating to the firm’s failure to consistently maintain a minimum positive risk-adjusted capital of $75,000 as required by securities rules.