ASC Issues Trading Ban against B.C.-based Clear Vistas Development

CALGARY, Dec. 9 /CNW/ - The Alberta Securities Commission (ASC) has reciprocated a British Columbia Securities Commission (BCSC) order and banned trading in Clear Vistas Development Corporation securities until such time, if ever, as the BCSC order is revoked.

Noting that the BCSC order addresses exempt-market misconduct by Clear Vistas Development Corporation in 2008 and 2009 and considering that there was evidence of exempt-market activity in Alberta during the same period, the ASC panel concluded that reciprocation of the BCSC order will protect Alberta investors and the Alberta capital market from the risk of harm posed by Clear Vistas Development Corporation.

A copy of the decision is available 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.

SOURCE Alberta Securities Commission

For further information: For further information: For Media Inquiries: Tamera Van Brunt, Director, Communications & Investor Education, (403) 297-2664; For Investor Inquiries: ASC Public Inquiries, Toll Free 1-877-355-4488

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