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The OSC is alerting investors not to enter into investment management agreements with Wealth Stewards Portfolio Management Inc. or its principals Sushila Lucas or Bruce Calvin Deck.

Read: OSC may regulate high-frequency trading

Effective June 13, 2014, the registration of Wealth Stewards Portfolio Management Inc. and Ms. Lucas has been suspended by a director of the OSC. A suspension means that Wealth Stewards Portfolio Management Inc. and Ms. Lucas may no longer advise others about buying, selling, holding or investing in securities for the suspension time periods specified in the director’s decision.

Mr. Deck is not and had not been registered to advise in securities in any Canadian jurisdiction as at the time of the director’s decision.

Under section 28 of the Securities Act (Ontario), a director of the OSC may suspend the registration of a firm or individual if it appears that the firm or individual is not suitable for registration, has failed to comply with Ontario securities law, or if their registration would otherwise be objectionable. The director’s written reasons for the decision to suspend Wealth Stewards Portfolio Management Inc. and Ms. Lucas are published on the OSC’s website.

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Originally published on Advisor.ca

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