CALGARY, May 25, 2011 /CNW/ - The Alberta Securities Commission (ASC) is
seeking to reciprocate an order imposed by the Mutual Fund Dealers
Association (MFDA) against Tadeusz (Ted) Bytnar.
On April 6, 2011, the MFDA ordered, among other things, that Bytnar be
permanently banned from: trading in securities; using any Ontario
securities law exemptions; and acting as a director or officer of any
issuer or registrant.
The MFDA ruled that Bytnar engaged in securities-related business
without the knowledge or approval of his employer and used his
employer's facilities when selling, referring, or facilitating the sale
of an investment product to four individuals. The MFDA also found that
Bytnar interfered with his employer's investigation into this matter by
making false and misleading statements and failed to cooperate with an
The ASC seeks reciprocation of the MFDA 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:
| For Media Inquiries: || Mark Dickey |
| || Senior Communications Advisor |
| || 403-297-4481 |
| || |
| For Investor Inquiries: || ASC Public Inquiries |
| || Toll Free 1-877-355-4488 |