CALGARY, Jan. 31, 2014 /CNW/ - Alberta Securities Commission (ASC) staff
are seeking to reciprocate an order imposed by the British Columbia
Securities Commission (BCSC) against Frederick Lawrence Marlatt (a.k.a.
Frederick Lawrence Mitschele) and Michael Wallace Minor for illegally
distributing Photo Violation Technologies Corp. (PVT) securities.
A BCSC panel determined that PVT, Mitschele and Minor violated
securities laws by selling approximately $3.6 million in PVT shares to
272 investors without being registered and without a prospectus. The
BCSC panel determined that the exemptions claimed by the respondents
were not applicable. At the time of the distributions, Mitschele was
president and chief executive officer and Minor a director of PVT, a
now-bankrupt parking technology company.
The BCSC panel banned Mitschele and Minor for five year bans from
trading securities or exchange contracts (with limited exceptions) and
from acting as a director or officer of any issuer, other than PVT2
(the successor company to PVT).
The ASC seeks reciprocation of the BCSC order to protect Alberta
investors and the integrity of the Alberta capital market.
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
SOURCE: Alberta Securities Commission
For further information:
For Media Inquiries:
Senior Communications Advisor
For Investor Inquiries:
ASC Public Inquiries
Toll Free 1-877-355-4488