ASC reciprocates bans against Gregory Clark Carrington

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 markets.

 

SOURCE Alberta Securities Commission

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

 


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