CALGARY, Dec. 16 /CNW/ - The Alberta Securities Commission (ASC) has
reached a $90,000 settlement with former Reveal.ca Inc. CEO Richard
Wayne Sayler regarding allegations of illegally distributing Reveal.ca
securities and making prohibited representations.
Under the Settlement Agreement, Sayler also agreed to pay $5,000 towards
the costs of the ASC's investigation, cease trading in or purchasing
securities or exchange contracts, not to act acting as a director or
officer of any issuer, registrant or investment fund manager, and not
to act in a management or consultative capacity in connection with
securities market activities, all for a period of 10 years.
In the Settlement Agreement, Sayler admitted to trading in and
distributing securities without registering, filing a prospectus or
using an applicable exemption. Sayler also acknowledged that he made
prohibited representations to investors when he stated that Reveal.ca
securities would be listed on an exchange.
A copy of the Settlement Agreement is posted 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 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
SOURCE Alberta Securities Commission
For further information: For further information:
|For Media Inquiries: || Mark Dickey|
Senior Communications Advisor
|For Investor Inquiries: ||ASC Public Inquiries |
Toll Free 1-877-355-4488