CALGARY, Dec. 13 /CNW/ - The Alberta Securities Commission (ASC) has
issued permanent market bans against Brian David Anderson of British Columbia.
The reciprocal orders permanently prohibit Anderson from trading in or
purchasing securities or relying on exemptions under the Alberta Securities
Act, from acting as a director or officer of any issuer (with one exception),
and from disseminating any type of information that relates to investing in,
purchasing or selling securities or exchange contracts.
The ASC decision is based on a British Columbia Securities Commission
(BCSC) order of June 21, 2007 that imposed similar sanctions on Anderson.
According to the BCSC's findings, Anderson illegally raised approximately
$14.7 million from 342 people through two investment schemes, Frontier Assets
and the Alpha Program. Evidence presented to the ASC panel showed that 24 of
these investors were Alberta residents.
In its decision, the ASC panel noted that even though Anderson now claims
to "recognize and understand" Canadian securities laws, "more is needed to
protect the investing public and other market participants and to deter
Anderson. Moreover, we discern a need for general deterrence of others who
might be inclined to act in a similar fashion."
A copy of this decision can be found on the ASC website at
A copy of the BCSC's order is available on the BCSC 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, firstname.lastname@example.org; For Investor
Inquiries: ASC Public Inquiries Toll Free 1-877-355-4488