ASC reciprocates bans against Steven Brian Friedland, Western Liquid Funding and Western Liquid Funding Inc.

CALGARY, April 5 /CNW/ - The Alberta Securities Commission (ASC) has reciprocated a British Columbia Securities Commission (BCSC) order and issued bans against Steven Brian Friedland, Western Liquid Funding and Western Liquid Funding Inc.

An ASC panel has ordered that for 20 years from November 30, 2010, Friedland be banned, with limited exceptions, from: trading in or purchasing securities; acting as a director or officer of any issuer, registrant or investment fund manager; acting as a registrant, investment fund manager or promoter; acting in a management or consultative capacity in connection with securities market activities; and disseminating to the public any oral or written communications, by or on behalf of any issuer, that promote or reasonably could be expected to promote the purchase or sale of securities of such issuer. The ASC panel also ordered that Western Liquid Funding and Western Liquid Funding Inc. permanently cease trading in or purchasing securities.

In a November 30, 2010 BCSC settlement agreement, Friedland admitted that he, Western Liquid Funding and Western Liquid Funding Inc. illegally distributed securities to more than 140 investors without registration to trade securities and without a prospectus being filed with the BCSC.

A copy of the ASC panel's 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 markets.


SOURCE Alberta Securities Commission

For further information:

For Media Inquiries: 

Mark Dickey
Senior Communications Advisor
403-297-4481
For Investor Inquiries: 
ASC Public Inquiries
Toll Free 1-877-355-4488

 


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