CALGARY, Feb. 17, 2012 /CNW/ - The Executive Director of the Alberta
Securities Commission (ASC) has denied the application for registration
of Harrington Capital Partners Inc. as an Exempt Market Dealer and
Blaine Russell Kennedy as a Dealing Representative and the Ultimate
Designated Person for Harrington.
Harrington Capital Partners and Kennedy had asked for the opportunity to
be heard by ASC's Executive Director after ASC staff recommended
refusal of their registration applications to the Executive Director.
The Executive Director concluded that Kennedy is unsuitable and
objectionable as a registrant in Alberta on the grounds he has
demonstrated "a lack of integrity and competence which is fundamental
to being a registrant in the Alberta capital markets." Harrington
Capital Partners' registration approval was dependent upon Kennedy
being successful in his application, so accordingly its application was
found not suitable.
The Executive Director also ordered that to the extent that Kennedy and
Harrington were relying upon a registration exemption under section
16.7 of National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations, they were no longer entitled to rely upon that exemption.
A copy of the 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
SOURCE Alberta Securities Commission
For further information:
For Media Inquiries: Lorinda Brinton
Senior Communications Advisor
For Investor Inquiries: ASC Public Inquiries
Toll Free 1.877.355.4488