ASC seeks to reciprocate bans against Luc Castiglioni, CPLC Limited Partnership and CPLC Management Group

CALGARY, April 12 /CNW/ - The Alberta Securities Commission (ASC) is seeking to reciprocate orders imposed by the British Columbia Securities Commission (BCSC) against Luc Castiglioni, CPLC Limited Partnership and CPLC Management Group Ltd.

In a January 31, 2011 BCSC decision, a BCSC panel ordered that Castiglioni be permanently banned from: trading in or purchasing securities or exchange contracts; 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 engaging in investor relations activities. The BCSC panel also issued permanent orders against CPLC Limited Partnership and CPLC Management Group Ltd.

The BCSC panel found that Castiglioni gave false and misleading information to BCSC staff and made untrue representations to investors regarding CPLC Management Group Ltd.'s registration status. The BCSC panel also found that Castiglioni perpetrated a fraud when he provided false or misleading information to investors, and did not use investors' funds in the manner in which they were told the funds would be used.

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 May 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:      Lorinda Brinton
      Senior Advisor, Investor Education
      403-297-2665
       
For Investor Inquiries:      ASC Public Inquiries    
      Toll Free 1-877-355-4488


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