ASC Halts Banned B.C. Businessman From Operating in Alberta

    CALGARY, Nov. 6 /CNW/ - The Alberta Securities Commission (ASC) has
ordered that Calgary resident Mark Cramer cease trading in or purchasing
securities (with one exception) and is denied the use of all exemptions under
the Alberta securities laws until May 2015. Cramer is also prohibited from
acting as a director or officer of any issuer (except for certain specified
    The ASC panel decision is based on a British Columbia Securities
Commission (BCSC) order of May 23, 2003 that prohibited Cramer from using
exemptions or acting as a director or officer for 12 years, with some
exceptions. In that order, BCSC found that Cramer, at the time a Prince George
businessman, participated in illegal distributions of securities, including
interests in a cattle ranch in northern B.C., that were unsuitable for
clients, given the clients' risk tolerance and investment goals.
    In its decision to issue the reciprocal order, the ASC panel found
evidence that Cramer was using his "Alberta residency as a means to continue
participating in the B.C. capital market" contrary to the BCSC order. The
panel concluded, "this demonstrates to us an inclination on the part of Cramer
to move from one jurisdiction to another to escape or circumvent securities
regulation, which is, in and of itself, a strong indicator of future risk to
Alberta investors and the Alberta capital market."
    A copy of this decision can be found on the ASC website at

    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.

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

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