2004-06-16 09:11 ET - In the News
See In the News (C-*BCSC) B.C. Securities Commission
The Vancouver Sun reports in its Wednesday edition that a Bermuda-based brokerage firm has denied allegations by the U.S. Securities and Exchange Commission that it was involved in improper trading in three junior companies. The Sun's David Baines writes that LOM (Holdings) Ltd. said in a release that neither the firm nor its principals have been involved in any manipulative trading of the shares of SHEP Technologies Inc., Sedona Software Solutions Inc. or HiEnergy Technologies Inc. All three are quoted on the OTC Bulletin Board in the United States. In an application filed last week in U.S. court, the SEC revealed it is investigating trading in all three companies. Days earlier, the B.C. Securities Commission revealed that it is investigating suspicious trading in San Telmo Energy. In a written response, LOM said it has been co-operating " to the extent possible," but is precluded from providing information on client trading by confidentiality laws in Bermuda. LOM said it will urge the American court to tell the SEC that it must recognize that it acts in a global community" ... but that it " must respect the duties imposed by the laws of other nations, even smaller nations."
