ASC Seeking Permanent Cease Trade Order Against B.C. Resident



    CALGARY, Oct. 29 /CNW/ - Alberta Securities Commission (ASC) staff are
seeking to ban Brian David Anderson of White Rock, British Columbia from the
Alberta capital market.
    In the Notice of Hearing, ASC staff seek a reciprocal order in Alberta
similar to orders made on June 21, 2007 by the British Columbia Securities
Commission (BCSC) that permanently prohibit Anderson from trading in
securities or engaging in investor relations activities in British Columbia.
The BCSC order was based on findings that Anderson had:

    
    -   solicited Canadian residents to invest funds with two entities,
        Frontier Assets and the Alpha Program;
    -   made false or misleading representations of large and guaranteed
        returns on investments;
    -   used investor funds for purposes other than those represented to the
        investors; and,
    -   failed to register with the BCSC in any capacity.
    

    ASC staff allege that between 2000 and 2004 Anderson attempted to conduct
trades in securities and provided advice to Alberta residents with respect to
investing in, buying and selling securities and that during this time roughly
22 Alberta residents and other investors paid Anderson approximately
$7 million.
    A hearing to consider whether to impose a reciprocal order against
Anderson has been scheduled for December 7, 2007.
    A copy of the Notice of Hearing 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.





For further information:

For further information: For Media Inquiries: Mark Dickey, Senior
Communications Advisor, (403) 297-4481, media@seccom.ab.ca; For Investor
Inquiries: ASC Public Inquiries, Toll Free 1-877-355-4488


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890