CALGARY, Feb. 9 /CNW/ - The Alberta Securities Commission (ASC) has
issued trading bans against Ontario-based Momentas Corporation, its de facto
officers and directors Howard Rash and Alexander Funt, its CEO and director
Malcolm Rogers and its president, CFO and director Suzanne Morrison. An ASC
panel decision reciprocates orders issued by the Ontario Securities Commission
against the same parties on April 4, 2006 and July 23, 2007.
The ASC orders:
- permanently ban Momentas Corporation from trading in securities and
using securities law exemptions;
- permanently ban Rash and Funt from trading in securities, using
securities law exemptions and acting as directors of any issuer;
- ban Morrison from trading in securities, using securities law
exemptions and acting as a director or officer of any issuer for 10
years from April 4, 2006; and
- ban Rogers from acting as a director or officer of any issuer for
three years from April 4, 2006.
The ASC panel noted that Momentas Corporation, Rash, Funt, Morrison and
Rogers had been active in the capital markets of several Canadian
jurisdictions, including Alberta, and ruled that "we are persuaded that
Alberta investors and the Alberta capital market would be at risk of harm by
the Respondents were we not to make reciprocal orders against them."
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