CALGARY, April 13 /CNW/ - The Alberta Securities Commission (ASC) has reciprocated orders made by the United States District Court, District of Nevada and permanently banned Saskatchewan resident Urban Casavant from trading in securities, relying on Alberta securities laws exemptions, and acting as a director or officer of any issuer.
The Nevada judgment was entered in response to allegations that Casavant contravened U.S. federal securities laws and participated in a fraud in connection with the sale of CMKM Diamonds, Inc. securities. ASC staff provided the ASC panel with evidence that Albertans were among the CMKM Diamonds shareholders.
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 markets.
SOURCE Alberta Securities Commission
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