Geniusfunds.com administration posted their comments concerning recent case in Canada:
Concerning the Canadian story, the BC securities commission is pushing for hearing due to a few affiliates in the province that were soliciting investors from that province in violation of investment act. Our counsel will be at the hearing and I believe the order will be lifted.
We operate in 120 countries around the world. You have to understand that it is hard to us to follow rules of every jurisdiction including provinces. We did not actively solicit investors from BC, neither have we advertised in BC.
If the order won't be lifted, we will have to stop serving investors from that province. Existing investors will not be affected by this. If you are not from that region there is nothing you have to worry about.
This problem will not repeat itself in the United States. We are currently in process of registering with SEC, but even without registration, our affiliates in the US are monitored and we make sure that they do not violate US laws.
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Abby C. Anderson, HYIPNews.com