ASC extends cease trade order against Ryan Steve Magee, David Wayne Magee and Master Daytraders Inc.

CALGARY, Aug. 27, 2013 /CNW/ - The Alberta Securities Commission (ASC) has extended until February 26, 2014 its Interim Cease Trade Order against Ryan Steve Magee, David Wayne Magee and their company Master Daytraders Inc. after considering evidence from ASC staff suggesting the Magees and Master Daytraders were involved in acting as dealers without the required registration, and suggesting they were involved in a course of conduct perpetrating a fraud on investors.

The Interim Cease Trade Order prohibits the Magees and Master Daytraders from trading in or purchasing all securities or exchange contracts.  It also prohibits them from disseminating to the public any communications that promote trading in or purchasing of securities or exchange contracts in or through trades by the Magees or Master Daytraders.

Members of the public are cautioned not to deal with or give their money to unlicensed dealers. Before making any investment, the public are urged to contact ASC Inquiries (1-877-355-4488 or [email protected]) to perform a background check on those involved with the investment.

A copy of the extended Interim Cease Trade Order and Notice of Hearing can be found on the ASC website at www.albertasecurities.com.

The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted to foster a fair and efficient capital market in Alberta and to protect investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.

SOURCE: Alberta Securities Commission

For Media Inquiries:
Lorinda Brinton
Senior Communications Advisor
403.297.2665

For Investor Inquiries:
ASC Public Inquiries
Toll Free 1.877.355.4488