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
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
SOURCE Alberta Securities Commission
For further information:
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