CALGARY, June 20, 2012 /CNW/ - Alberta Securities Commission (ASC) staff
are seeking to reciprocate orders imposed by the New Brunswick
Securities Commission (NBSC) against MI Capital Corporation of Hong
Kong and One Capital Corp. Limited of Singapore.
In a June 11, 2012 decision, a NBSC panel ordered that MI Capital
Corporation and One Capital Corp. Limited permanently cease trading in
all securities, that all trading in securities offered by MI Capital
Corporation and One Capital Corp. Limited cease permanently and that MI
Capital Corporation and One Capital Corp. Limited be permanently banned
from using any exemptions under New Brunswick securities law.
In a May 29, 2012 Statement of Allegations, NBSC staff alleged that MI
Capital Corporation and One Capital Corp. Limited solicited New
Brunswick residents to invest in gold options when not registered to
trade in securities. NBSC staff also alleged that in one case, a
salesperson for MI Capital Corporation claimed the investment would
provide returns of 30 to 70 per cent in a maximum time period of 90
ASC staff seek reciprocation of the NBSC 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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