GIFG Suisse, GIFG
Rue du Cendrier (8th Floor)
P.O. Box 1106, CH-1211
Geneva 1, Switzerland
Telephone: 41 (0) 227321220
www.gifgch.com (no longer operational)
GIFG (UK) Ltd.
14A Nelson Street
Southend on Sea
In 2006, Arial Trading , LLC and Saxon Financial Services, Inc. solicited British Columbia residents to open accounts with GIFG (Suisse) S.A. for trading options. Arial Trading , LLC and Saxon Financial Services, Inc. acted as an introducing brokers to GIFG (Suisse) S.A. Aria Trading, LLC, Saxon Financial Services, Inc. and GIFG Suisse S.A. are not registered in British Columbia to trade in, or advise on, securities and exchange contracts.
On March 6 and 19, 2007, the Saskatchewan Financial Services Commission issued Temporary Orders against Arial Trading, LLC and others, and, on March 21 and April 3, 2007, it issued Extending Orders extending the Temporary Orders.
On August 27, 2007, the Autorité des marchés financiers issued a cease trading order against Arial Trading, LLC and other companies.
In July and August 2007, the Saskatchewan Financial Services Commission, the Ontario Securities Commission, the New Brunswick Securities Commission and the Alberta Securities Commission took regulatory action against Saxon Financial Services, Inc. and others.
On October 3, 2007, the United States Commodity Futures Trading Commission filed a complaint and obtained a restraining order against Saxon Financial Services, Inc.