CALGARY, Nov. 16 /CNW/ - The Alberta Securities Commission (ASC) has reciprocated a British Columbia Securities Commission (BCSC) order and permanently banned British Columbia resident John Gregory Paterson from trading in securities and from acting as a director or officer of any issuer.
On June 24, 2009, the BCSC issued its order against Paterson as a result of his engaging in insider trading and his participation in a series of transactions he knew, or ought to reasonably to have known, perpetrated a fraud on persons in British Columbia and elsewhere contrary to British Columbia securities laws. The ASC panel was persuaded that Alberta investors and the Alberta capital market were exposed to harm by Paterson's misconduct and that "protection of Alberta investors and our capital market warrants orders reciprocating those made in the BCSC Order."
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