Alberta investment firm fined for advising clients without B.C. registration



    VANCOUVER, Feb. 27 /CNW/ - The British Columbia Securities Commission has
settled with an Alberta-based investment firm that has agreed to pay $92,575
for giving investment advice without being registered.
    CWM Investment Counsel Inc. (CWM), an investment firm based in Alberta,
admitted in a settlement agreement with the BCSC that it had provided
investment advice to B.C. investors without registration under the Securities
Act.
    Under the settlement agreement, CWM agreed to pay a $63,000 fine and
$29,575 representing registration fees that otherwise would have been payable
to the BCSC if the company had been registered in the province.
    The firm provided investment advice to as many as 20 clients from July
1991 to January 20, 2008, all of whom became clients with the firm prior to
moving to B.C. The firm registered in B.C. as an investment counsel and
portfolio manager on January 21, 2008.

    The B.C. Securities Commission is the independent provincial government
agency responsible for regulating trading in securities within the province.
You may view the settlement on our website www.bcsc.bc.ca by typing in the
search box, CWM Investment Counsel Inc. or 2008 BCSECCOM 115. If you have
questions, contact Ken Gracey, Media Relations, 604-899-6577.

    Learn how to avoid investment fraud at the BCSC's investor education
website: www.investright.org.





For further information:

For further information: Ken Gracey, (604) 899-6577 or (B.C. & Alberta)
1-800-373-6393


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