CALGARY, April 11, 2013 /CNW/ - An Alberta Securities Commission (ASC) panel has ruled that Robert Henry Stan, Anita Louise Roncin, Eugene Hiroshi Nagai, Timothy Peter Riordon, Kevin Ronald Wade and Kathryn Paula Stan did not engage in illegal insider trading of shares of Alberta-based coal mining company, Grand Cache Coal Corporation.
The ASC panel ruled that alleged material facts were not material facts left undisclosed at the time of the named parties' trading activities. Therefore there was no breach of Alberta securities laws or conduct contrary to the public interest.
In its ruling, the ASC panel took the opportunity "to remind all market participants of the care and scrutiny that must be undertaken by those closely associated with a reporting issuer to ensure that all material information has been generally disclosed before they either purchase or sell that issuer's securities."
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
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