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

CALGARY, Feb. 17 /CNW/ - The Alberta Securities Commission (ASC) is seeking to reciprocate orders imposed by the British Columbia Securities Commission (BCSC) against Steven Brian Friedland, Western Liquid Funding and Western Liquid Funding Inc.

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.  The BCSC ordered Friedland be banned, with limited exceptions, from trading and purchasing securities, and from becoming or acting as a director or officer of any issuer, registrant, or investment fund manager for 20 years. He is also prohibited, for the same period, from becoming or acting as a registrant, investment fund manager or promoter, from engaging in investor relations activities, and from acting in a management or consultative capacity in connection with activities in the securities market.  Western Liquid Funding and Western Liquid Funding Inc. are permanently cease traded.

The ASC seeks reciprocation of the BCSC orders to protect Alberta investors and the Alberta capital market.

It is anticipated that the ASC panel will consider this application in March 2011.

A copy of the Notice of Hearing 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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