Bermuda Stock Exchange-listed Brek Energy Corporation - formerly Bermuda-registered FirstEcom.com Ltd. - has had an order banning it from trading securities in British Columbia lifted.

The ban was out in place after Police and special investigators swooped on an unauthorised "boiler room" stock trading operation in which one of the companies being traded in was Brek.

The British Columbia Securities Commission also lifted a similar ban on Rick Jeffs, the company's former president and CEO, and on associated company Vallenar Energy Corporation and its former president and CEO, Jeff Paquin.

"Brek Energy is pleased that the commission has released the company from all orders," said Ian Robinson, Brek's chairman, "We are also pleased that Rick Jeffs, Vallenar Energy Corp and Jeff Paquin have also been released.

"Brek and Vallenar can now continue to review their properties and reorganise administration."

First Ecom.com's career ended after its Nasdaq listed shares dropped from a high of $34 to negligible value and the company moved from e-commerce into oil and gas exploration under the name Brek.

According to the Vancouver Sun, British Columbia Securities Commission investigators and eight uniformed police raided a Vancouver premises in November and found a "classic boiler room operation".

It involved 17 "phoners" grouped around a bank of telephones, scripts used to tout stocks and lists of phone numbers for people in Canada, the UK, US and other countries.

The boiler room participants allegedly encouraged stock trading and dispensed stock advice without being registered to do so, the November 23, 2002, article states. According to the website of the British Columbia Securities Commission, a cease trading order was issued in November against nine companies, including Brek and its affiliate, Villenar. In response, Brek said that, due to the order, Mr. Jeffs has resigned from Brek Energy Limited only a month after replacing Gregory Pek as president and CEO of the company, formerly First Ecom.com.

On September 18, 2002, Brek filed a Registration Statement with the SEC regarding 8.02 million shares that insiders intended to sell, with none of the proceeds going to the firm.

Among them were 748,000 shares registered to "Warwick Ventures Limited - Stuart Smith, c/o LOM Securities Bermuda Ltd."

Two of the parties named in BCSC order, Mr. Jeffs and Wet Coast Management of which he is a director, filed to sell a total of 2.475 million shares.

Last month LOM issued a statement to The Royal Gazette that they had ceased to have any dealings with First Ecom.com almost two years ago, and the company declined to answer further queries in relation to the company.