Complaints & Guidance

Investor Alerts

The Manitoba Securities Commission
1130-405 Broadway
Winnipeg, MB
R3C 3L6

October 31, 2002

Manitoba Securities Commission Issues Cease Trade Order Against Palmetto Financial Services Inc.

Winnipeg, - The Manitoba Securities Commission is warning the public to be on the look out for an illegal and possibly fraudulent investment scheme.

The Commission has issued an order under The Securities Act cease trading securities of Palmetto Financial Services Inc. This order is in effect until November 6, 2002, unless extended by further order of the Commission.

Staff of the Commission has received information which indicates that securities of or in relation to Palmetto Financial Services Inc. have been traded and may continue to be in the process of being traded in Manitoba to members of the public by Stefan Szuminsky.

If you have purchased or have been contacted to purchase any investments from Palmetto Financial Services Inc. or Stefan Szuminsky please contact The Manitoba Securities Commission at (204) 945-2548 and ask to speak to an investigator. If you live outside Winnipeg, you can contact the Commission toll free at 1-800-655-5244.

Ainsley Cunningham
Education and Information Coordinator
(204) 945-4733,