The Securities and Exchange Commission, which has long worried over the way speculative Canadian stock issues pour into U.S. markets despite SEC regulations, last week got what it thought was a perfect example of how it is done. The case involved Great Sweet Grass Oils Ltd. and Kroy Oils Ltd., sister Canadian companies whose stock was recently suspended on the American Stock Exchange because the oil and asset claims looked suspicious (TIME, Nov. 5). But as SEC poked deeper in a hearing last week, it uncovered a series of transactions that seemed to duck around U.S. regulations and bring...
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