CALGARY, April 5 /CNW/ - The Alberta Securities Commission (ASC) has
reciprocated a British Columbia Securities Commission (BCSC) order and
issued bans against Steven Brian Friedland, Western Liquid Funding and
Western Liquid Funding Inc.
An ASC panel has ordered that for 20 years from November 30, 2010,
Friedland be banned, with limited exceptions, from: trading in or
purchasing securities; acting as a director or officer of any issuer,
registrant or investment fund manager; acting as a registrant,
investment fund manager or promoter; acting in a management or
consultative capacity in connection with securities market activities;
and disseminating to the public any oral or written communications, by
or on behalf of any issuer, that promote or reasonably could be
expected to promote the purchase or sale of securities of such issuer.
The ASC panel also ordered that Western Liquid Funding and Western
Liquid Funding Inc. permanently cease trading in or purchasing
In a November 30, 2010 BCSC settlement agreement, Friedland admitted
that he, Western Liquid Funding and Western Liquid Funding Inc.
illegally distributed securities to more than 140 investors without
registration to trade securities and without a prospectus being filed
with the BCSC.
A copy of the ASC panel's 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:
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