ASC accepts undertaking from Prism Group of Companies
CALGARY, June 6, 2012 /CNW/ - The Alberta Securities Commission (ASC) has accepted an undertaking from Prism Group of Companies Inc. in regards to a prohibited representation that appeared on a website controlled by the company. The representation was an unqualified statement that two investment opportunities being advertised on the website offered a "60% Potential Return Over 3 Years."
In the undertaking, Prism Group of Companies admitted that the representation was misleading and did not state facts that were required, or that were necessary to make the representation not misleading.
Prism Group of Companies has removed the representation from the website and has undertaken to refrain from publishing it again by any means and in any form.
The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted to foster a fair and efficient capital market in Alberta and to protect investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.
For further information:
For Media Inquiries:
Senior Communications Advisor
For Investor Inquiries:
ASC Public Inquiries
Toll Free 1.877.355.4488