St Andrew Goldfields Ord STADF

RE: RE: RE: RE: Trapeze

[Nomad3]

IknowIknow.....read the settlement with OSC. They have sold million since April but still hold millions (22 i think) Unfortunately, their selling on behalf of clients of Trapeze has been keeping the share price depressed, but hopefully its coming to an end and we will slowly make our way to $1 soon. (fyi they own millions of shares personally as well and I dont think they have been selling)

Investor Claims Against Trapeze Asset Management Inc.
and Trapeze Capital Corporation

The importance of consumer protection is highlighted in rulings by two financial industry regulators against Trapeze Asset Management Inc., Trapeze Capital Corporation (Trapeze), and their executives, Randall Abramson and Herbert Abramson. Currently, Hollander & Geller represent clients in 11 separate claims in the GTA and Ottawa that are issued and outstanding against Trapeze, the Abramsons and related companies.

On April 27, 2012, following an investigation in response to complaints from investors, the Ontario Securities Commission (OSC) announced that Trapeze and their executives breached regulation by their "inadequate collection of some clients’ investment needs, objectives and risk tolerance." In effect, they failed to fulfill their Know Your Client (KYC) obligation. Also, they “inaccurately assessed the risk associated with many of the investments purchased on behalf of clients in managed accounts.”

Trapeze and the Abramsons signed an agreement that they acknowledge these breaches, and have admitted that “many clients saw their investment portfolios decline in value by approximately 50% to 90%.” To read the full settlement ruling visit:
https://www.osc.gov.on.ca/documents/en/Proceedings-SET/set_20120419_trapeze.pdf