CALGARY, Feb. 18 /CNW/ - The Alberta Securities Commission (ASC) has
found that Edmonton-based salesperson Patricia Frances Marcotte (nee
Roque) breached Alberta securities laws and, in so doing, acted
contrary to the public interest.
An ASC panel found that, beginning in 2007, Marcotte sold undivided
interests in lands located in Sturgeon County, Alberta on behalf of
Trident Properties Ltd. Trident Properties was to develop the lands so
that investors would make a profit. The ASC panel concluded that
Marcotte, in selling the undivided land interests, was selling
"investment contracts" illegally, without the required registration or
In selling the undivided land interests, Marcotte was also found to have
made prohibited and misleading and untrue statements to prospective
investors. The ASC panel stated: "In short, we find that Marcotte
made representations that were misleading or untrue (or both) to
prospective investors that she reasonably ought to have known were
such. In this sense, she moved along the road from dupe to deceiver."
The ASC panel has set dates in March and April 2011 for ASC staff and
Marcotte to provide submissions on what, if any, orders the panel
should make against Marcotte.
A copy of the decision is posted on the ASC website at www.albertasecurities.com.
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
SOURCE Alberta Securities Commission
For further information:
|For Media Inquiries: ||Mark Dickey|
| ||Senior Communications Advisor|
| || |
|For Investor Inquiries: ||ASC Public Inquiries|
| ||Toll Free 1.877.355.4488|