CALGARY, Oct. 30 /CNW/ - The Alberta Securities Commission (ASC) has
found that Edmonton businessman Lambert "Bert" Lavallee engaged in illegal
trades and illegal distributions of securities of KCP Innovative Services Inc.
to Alberta investors.
In its decision, an ASC panel determined that Lavallee had "misused the
accredited investor exemption" by participating in the sale of KCP securities
to approximately 127 investors, raising $1.7 million. Other allegations made
by ASC staff against Lavallee were either withdrawn during the hearing or
dismissed in the decision. The ASC panel will now determine what sanction
orders, if any, ought to be made against Lavallee in the public interest.
A copy of this decision can be found on the ASC website at
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.
For further information:
For further information: For Media Inquiries: Mark Dickey, Senior
Communications Advisor, (403) 297-4481, email@example.com; For Investor
Inquiries: ASC Public Inquiries, Toll Free 1-877-355-4488