Cannot Connect to SQL Anywhere 10...Error: "table 'sysloginpolicyoption' not found"

I am evaluating Toad for Sybase and I am unable to connect SQL Anywhere 10.

I get the following error when I try to connect:

table ‘sysloginpolicyoption’ not found

I am able to connect using Interactive SQL and I’ve confirmed that the connection settings and credentials are all correct.

Any ideas or suggestions?

Thanks