BCSC makes reciprocal orders: market bans based on Alberta orders



    VANCOUVER, July 9 /CNW/ - British Columbia Securities Commission panels
have made reciprocal orders in five decisions against eight individuals who
were sanctioned by the Alberta Securities Commission.
    Lambert "Bert" Lavallee, Wai-Leung Cheng (aka Danny Cheng), Lisa Wong, J.
Gordon Ironside, Robert W. Ruff, Howard Hills, Terry Leong and William Douglas
Henderson are subject to orders made by BCSC panels that are based on Alberta
Securities Commission (ASC) orders made between 2006 and 2008.
    BCSC commission panels may make reciprocal enforcement orders following a
streamlined process when another security regulatory authority has imposed
sanctions on a person. Commission panel reciprocal enforcement orders impose
market bans on individuals or companies, which can include one or more of the
following sanctions:

    
    -   cease trading in and purchasing securities and exchange contracts;
    -   a prohibition from becoming or acting as a director or officer of any
        issuer, registrant or investment fund manager;
    -   a prohibition from becoming or acting as a registrant, investment
        fund manager or promoter;
    -   a prohibition from acting as a manager or consultant in the
        securities market; and
    -   a prohibition from engaging in investor relations activities

    Under the BCSC enforcement orders:

    -   Lavallee is subject to market bans until Feb. 7, 2013. The BCSC order
        (BCSECCOM 371) is based on an ASC decision in Lavallee, Re, 2008,
        ABASC 78.

    -   Cheng is subject to market bans until Nov. 13, 2014, and Wong is
        subject market bans until Nov. 13, 2010. The BCSC orders (BCSECCOM
        370) are based on an ASC decision in Cheng, Re 2007 ABASC 834.

    -   Ironside is permanently banned from B.C. capital markets, and Ruff is
        subject to market bans until Nov. 7, 2017. The BCSC orders (BCSECOMM
        373) are based on an ASC decision in Ironside, Re, 2007 ABASC 824.

    -   Hills is subject to market bans until Jan. 23, 2017. The BCSC order
        (BCSECOMM 368) is based on an ASC decision in Hills, Re, 2007
        ABASC 41.

    -   Leong and Henderson are subject to market bans until Nov. 16, 2016.
        The BCSC orders (BCSECOMM 372) are based on an ASC decision in
        526053 B.C. Ltd., Re, 2006 ABASC 1795.
    

    For more information on the BCSC orders and ASC decisions use the name of
the individual or document references to conduct a search at www.bcsc.bc.ca or
www.albertasecurities.com.

    The B.C. Securities Commission is the independent provincial government
agency responsible for regulating trading in securities within the province.
If you have questions, contact Ken Gracey, Media Relations, 604-899-6577.

    Learn how to avoid investment fraud at the BCSC's investor education
website: www.investright.org.





For further information:

For further information: Ken Gracey, (604) 899-6577 or (B.C. & Alberta)
1-800-373-6393


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