ASC finds that Glenn Hunter, Kyle Watters, HW & Associates Inc. and HW TradeFX LLC acted as unregistered dealers

CALGARY, AB, Oct. 9, 2025 /CNW/ - The Alberta Securities Commission (ASC) has found that Glenn Donald Hunter, of Grande Prairie, AB, and Kyle William Watters, of Kelowna, BC, along with companies they controlled, HW & Associates Inc. and HW TradeFX LLC, breached Alberta securities laws by acting as dealers for foreign exchange trading without being registered.

An ASC panel determined that between February 2021 and February 2023, Hunter, Watters and the two companies raised about $20 million from approximately 200 investors. They all admitted to engaging in the business of trading without being registered as dealers under Alberta securities laws.

The proceeding will now move into a second phase to determine what, if any, orders for sanction or cost recovery ought to be made against Hunter, Watters and the two companies. The timing of the next steps will be set after hearing from the parties.

A copy of the decision is available on the ASC website at asc.ca.

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 please contact: For media inquiries: Gabrielle Chamiço, Advisor, Communications, [email protected]; For investor inquiries: ASC Public Inquiries, Toll Free 1.877.355.4488, [email protected]