CALGARY, April 21 /CNW/ - The Alberta Securities Commission (ASC) has
reciprocated a British Columbia Securities Commission (BCSC) order and
banned Gregory Clark Carrington from the Alberta market for 20 years.
An ASC panel has ordered that for 20 years from February 7, 2011,
Carrington be banned from: trading in securities; acting as a director
or officer of any issuer; acting in a management or consultative
capacity in connection with securities market activities; and
disseminating to the public any oral or written communications, by or
on behalf of any issuer, that promote or reasonably could be expected
to promote the purchase or sale of securities of such issuer.
In a February 2011 BCSC settlement agreement, Carrington admitted that
he authorized, permitted or acquiesced in contraventions of B.C.
securities laws by WebNet Converged Wireless Networks Ltd., WebNet
Broadcasting Corporation, WebNet Global Capital Partners Ltd. and 3dh
Capital Ltd. Those four companies distributed securities under offering
memoranda that contained numerous deficiencies and Carrington was a
director and officer of all four.
A copy of the ASC panel's decision is available 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:
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| || || Mark Dickey |
Senior Communications Advisor
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Toll Free 1-877-355-4488