Commission Issues Sanctions Against Stratus Financial Group International

The Nova Scotia Securities Commission has issued sanctions against Stratus Financial Group International.

Stratus, and representatives Magnus Torgerson, John Westbrook, Mark Stone and Teddy Stone violated securities laws by facilitating the purchase or sale of investments without being registered with the commission and by engaging in unfair practices while trying to illegally solicit investments.

The company and its representatives are prohibited from trading securities in Nova Scotia and from calling any Nova Scotian at their residence for the purpose of trading in securities. This includes asking for investments from people and providing advice to people on investments.

In April 2015, Stratus and their representatives ignored the commission's order requiring them to temporarily cease all trading in Nova Scotia. The commission extended the order and issued a notice of hearing.

The commission urges Nova Scotians to use caution when dealing with firms that are not registered in Nova Scotia. It is illegal to ask for investments in Nova Scotia without registering with the commission and complying with Nova Scotia securities laws.

To see if a company or person is registered, check the Canadian Securities Administrators' National Registration Search at www.securities-administrators.ca/nrs/nrsearch.aspx?id=850 .

To report suspicious securities activity go to the commission's website at http://nssc.novascotia.ca/recognize-and-report-scam .

The Nova Scotia Securities Commission is the provincial government agency responsible for regulating the investment industry in the province. To view the order, visit http://nssc.novascotia.ca/enforcement-proceedings/stratus-financial-group-international-stratus-offshore-magnus-torgerson-and-john-westbrook .