CALGARY, Dec. 21, 2015 /CNW/ - The Alberta Securities Commission (ASC) has found that Candice Anne Graf (a.k.a Candi Hayward), Homerun International Inc. and several connected companies illegally traded or distributed securities, and that Graf and Homerun made prohibited representations to investors. An ASC panel also found that Graf authorized, permitted or acquiesced in these breaches by the companies, and that Christopher Robert Hayward authorized, permitted or acquiesced in the majority of these breaches.
In making this decision, the ASC panel found: "The Respondents – perhaps with an exaggerated sense of their own knowledge and abilities – substituted glib talk and often haphazardly-drafted documentation for serious attention to legal principles, requirements and restrictions. They also proved unable to successfully manage their growing number of projects. The results were predictably disastrous. Along the way, as has been seen, securities laws were repeatedly broken."
The allegations related to the sale of investment products from 2007 to 2012, for claimed proceeds exceeding $26 million.
The ASC panel dismissed allegations of fraud and other misconduct, including allegations against two connected numbered companies.
ASC staff and the Respondents will have the opportunity to submit their views on what, if any, orders ought to be made in this case.
A copy of the decision 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 with fostering a fair and efficient capital market in Alberta and with protecting 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: Mark Dickey, Senior Communications Advisor, 403.297.4481; For Investor Inquiries: ASC Public Inquiries, Toll Free 1.877.355.4488