Commission Issues Permanent Ban Against Ontario Company

The Nova Scotia Securities Commission has adopted a Manitoba Securities Commission(MSC)decision and ordered that Tri Clean Enterprises Inc. of Richmond Hill, Ont., be denied access to all registration exemptions under Nova Scotia securities laws on a permanent basis.

In an Aug. 18, 2009, decision and an Aug. 24, 2009, order, the MSC found that Tri Clean contravened Manitoba securities laws and ordered several sanctions, including a permanent denial of access to all registration exemptions under Manitoba securities laws.

From April, 2005, to March, 2007, Tri Clean acted in furtherance of a trade by distributing securities to investors residing in Manitoba without being registered to trade in securities and without having filed a prospectus under Manitoba securities laws. Nova Scotia Securities Commission staff presented evidence to the commission that in 2005 and 2006, Tri Clean acted in furtherance of a trade by distributing securities to three investors residing in Nova Scotia. The commission determined that it is in the public interest to reciprocate the MSC order.

The Nova Scotia Securities Commission is the provincial government agency responsible for regulating trading in securities in the province. To view the decision and order, visit the website at www.gov.ns.ca/nssc/en_detail.asp?ID=76