The Alberta Securities Commission (ASC) has reciprocated certain bans the British Columbia Securities Commission (BCSC) imposed on Rudolf Walter Brenner.
An ASC panel ordered that, for two years from July 17, 2014, Brenner:
- must cease trading in or purchasing securities or derivatives;
- is prohibited from engaging in investor relations activities and becoming or acting as a director or officer of any issuer;
- is prohibited from becoming or acting as a registrant, investment fund manager or promoter; and
- is prohibited from acting in a management or consultative capacity in connection with activities in the securities market.
A BCSC panel found, among other things, that Brenner made false and misleading statements to a BCSC staff investigator in connection with certain trading activity that Brenner directed in a foreign securities trading account. The trading activity in question involved sales of shares of Hellix Ventures Inc., a reporting issuer in British Columbia, of which Brenner was a director at the relevant time.
The ASC panel took into account the seriousness of Brenner’s misconduct and evidence that Hellix Ventures was a reporting issuer in Alberta in concluding that reciprocating British Columbia bans would serve the public interest.
The ASC is the regulatory agency responsible for administering the province’s securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada’s capital markets.
SOURCE Alberta Securities Commission
PR NEWSWIRE – MARCH 13, 2015.