CALGARY, Oct. 27 /CNW/ - The Alberta Securities Commission (ASC) has issued a Notice of Hearing alleging that Strategic Equity Corporation and its Director of Business Development, David D. Bulloch breached Alberta securities laws by engaging in illegal insider trading of Shift Networks Inc. securities and by manipulating the market for Shift Network shares.
ASC staff allege that Strategic Equity and Bulloch were in a special relationship with Shift Networks and were in possession of information not publicly disclosed when they traded Shift Networks shares in February and March 2007. ASC staff are seeking various sanctions against Strategic Equity and Bulloch, including trading bans and administrative penalties.
An appearance to set a date for hearing will be held on November 19th, 2009, at 8:30 a.m. in the ASC Hearing Room, 6th Floor, 300 - 5 Avenue SW, Calgary, Alberta.
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 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