CALGARY, Feb. 19 /CNW/ - The Alberta Securities Commission (ASC) has
ordered permanent trading bans against Alberta-based Integra Investment
Service Ltd. and Carling Development (B.C.) Inc. ruling that it was in the
public interest to order significant market-access bans against the two
An ASC panel permanently banned:
- all trading in or purchasing of Integra Investment Service and
Carling Development (B.C.) securities or exchange contracts;
- Integra Investment Service and Carling Development (B.C.) from trading
in or purchasing securities or exchange contracts; and
- Integra Investment Service and Carling Development (B.C.) from using
any Alberta securities laws exemptions.
In its decision, the ASC panel found that Carling Development (B.C.)
illegally traded and distributed its securities and that Integra Investment
Service, acting as marketing agent, illegally traded and distributed various
securities, including Carling Development (B.C.) securities, apparently to
approximately 290 Albertans, raising over $14 million.
The panel ruled that "all of these investors were exposed to financial
harm by the illegal trades and distributions..." The ASC panel noted that both
Integra Investment Service and Carling Development (B.C.) are in receivership.
A copy of the decision is available 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; For Investor Inquiries: ASC Public
Inquiries, Toll Free 1-877-355-4488