CALGARY, Oct. 31, 2013 /CNW/ - The Alberta Securities Commission (ASC)
has reciprocated bans imposed by the Ontario Securities Commission
(OSC) against Colby Cooper Capital Inc., Colby Cooper Inc., Pac West
Minerals Limited, and John Douglas Lee Mason (the Respondents).
The OSC approved an April 2013 Settlement Agreement, in which the
Respondents admitted that they breached Ontario securities laws, and
imposed numerous sanctions on the Respondents.
In reciprocating sanctions imposed by the OSC panel, an ASC panel
ordered, among other things, that the Respondents permanently cease
trading in or purchasing securities and be denied the use of all
exemptions under Alberta securities laws (with limited exceptions for
Mason). The Respondents are permanently prohibited from becoming or
acting as a registrant, investment fund manager or promoter, and Mason
is permanently prohibited from becoming or acting as a director or
officer (or both) of any issuer, registrant or investment fund manager.
In its decision, the ASC panel was satisfied that, in light of the
multi-jurisdictional nature of the Respondents' misconduct and their
connection to Alberta, the public interest will be served by
reciprocating sanctions imposed by the OSC panel.
A copy of the decision is available 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
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