CALGARY, Sept. 4, 2014 /CNW/ - Alberta Securities Commission (ASC) staff have issued a Notice of Hearing alleging that Global Social Capital Partners, Inc. (Global) and its principal, John Byron Rochard, engaged in illegal trades and distributions of Global securities and made prohibited representations to investors.
ASC staff also allege that Global failed to file reports of exempt distribution with respect to Global securities and that Rochard authorized, permitted or acquiesced in the conduct of Global that violated Alberta securities laws. Global and Rochard raised approximately $1.5 million from 63 investors, the majority of whom resided in Alberta.
These allegations have not been proven.
An appearance to set a date for a hearing will be held on Monday, October 6, 2014, at 9:30 a.m. in the ASC Hearing Room, 5th Floor, 250 – 5th Street SW, Calgary, Alberta.
The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting 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 Media Inquiries: Mark Dickey, Senior Communications Advisor, 403.297.4481, For Investor Inquiries: ASC Public Inquiries, Toll Free 1.877.355.4488