Saxon Financial Services, Inc., Saxon Financial Services
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Date:
2008-11-20
Contact:
3340 Peachtree Road, Suite 1800
Atlanta, GA 30326
USA
www.sfxtrade.com (no longer operational)
Background:
In 2006, British Columbia residents were solicited by Saxon Financial Services, Inc. to open accounts with GIFG (Suisse) S.A. to trade commodity options. Saxon Financial Services, Inc. acted as an introducing broker to GIFG (Suisse) S.A. Neither Saxon Financial Services, Inc. nor GIFG (Suisse) S.A. are registered to trade in, or advise on, securities and exchange contracts in British Columbia.
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.
Supporting Documents:
- Commodity Futures Trading Commission: Press release - October 31, 2007
Commodity Futures Trading Commission: Complaint - October 3, 2007
Commodity Futures Trading Commission: Order - October 3, 2007
Ontario Securities Commission - Notice of Hearing, July 26, 2007
Ontario Securities Commission: Temporary Order - July 26, 2007
Ontario Securities Commission: Order - March 28, 2008
New Brunswick Securities Commission: Investor Alert - July 13, 2007
New Brunswick Securities Commission: Temporary Order - July 13, 2007
New Brunswick Securities Commission: Statement of Allegations - July 13, 2007
New Brunswick Securities Commission: Cease Trade Order - July 27, 2007
New Brunswick Securities Commission: Reasons for Decision - October 9, 2007
Alberta Securities Commission: Decision - November 6, 2007
Alberta Securities Commission: Interim Cease Trade Order - August 2, 2007
Saskatchewan Financial Services Commission: Temporary Order - July 12, 2007
Saskatchewan Financial Services Commission: Extending Order - July 27, 2007