ASC Sanctions B.C. Resident for Illegal Trading

    CALGARY, Nov. 19 /CNW/ - The Alberta Securities Commission (ASC) has
issued a cease trade order against Douglas Arnold Clarke of Nanaimo, B.C. that
prohibits him from trading in or purchasing securities or relying on
exemptions under the Alberta Securities Act (with one exception) until October
17, 2026. The ASC order also prohibits Clarke from acting as a director or
officer of any issuer (with one exception) until at least October 17, 2026.
    The ASC panel decision is based on a British Columbia Securities
Commission (BCSC) order of October 17, 2006 that imposed sanctions including a
20-year trading ban on Clarke, the director and president of Bick Financial
Services Inc. The BCSC order stemmed from Clarke and Bick's raising of
approximately $4.4 million through illegal trades and distributions of
securities of Kleincorp Management Inc., doing business as Insta-Cash Loans.
Evidence presented to the ASC panel showed that 16 Alberta residents invested
approximately $475,000 in Kleincorp either through Bick or directly.
    In making its decision, the ASC panel noted that "we are persuaded that,
unless we intervene with protective and deterrent sanctions, it is conceivable
that Clarke could resume similar capital-raising activities in Alberta,
further exposing Alberta residents and the Alberta capital market to harm."
    A copy of the ASC decision is available on the ASC website at
    A copy of the BCSC's order, and the settlement agreement is available on
its 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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