CALGARY, June 11 /CNW/ - The Alberta Court of Appeal has released Reasons for Judgment allowing the appeal of David John Del Bianco and setting aside his September 5, 2008 conviction in Calgary Provincial Court for failing to comply with a February 14, 2003 Alberta Securities Commission (ASC) order prohibiting him from becoming or acting as a director of any issuer for four years.
Del Bianco is still prohibited from trading and using exemptions under Alberta securities laws and from acting as a director or officer of any issuer until July 28, 2017. The Alberta Provincial Court imposed these sanctions under a separate cease trade order, varied on appeal, for other breaches of the February 14, 2003 ASC order.
In addition, ASC staff has filed a Notice of Discontinuance of its allegations in an August 20, 2007 ASC Notice of Hearing that names Del Bianco as a respondent. A September 4, 2007 ASC interim cease trade order against Del Bianco connected to these proceedings is also in the process of being vacated.
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 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