ASC sanctions Glenn Hunter, Kyle Watters, HW & Associates Inc. and HW TradeFX LLC

CALGARY, AB, July 9, 2026 /CNW/ - The Alberta Securities Commission (ASC) has sanctioned Glenn Donald Hunter, Kyle William Watters, HW & Associates Inc. and HW TradeFX LLC for breaching Alberta securities laws.

Hunter, Watters and the two companies all admitted to engaging in the business of trading without being registered as dealers under Alberta securities laws. Previously, an ASC panel accepted those admissions and found that they raised about $20 million from approximately 200 investors between February 2021 and February 2023. In its sanction decision, the panel noted there was serious misconduct by Hunter, Watters and the two companies, but distinguished between the roles and involvement of the two individuals.

The panel found that Watters played the leading role in the unregistered trading operation and bore greater responsibility for investor losses. The panel ordered 20-year market-access bans against Watters, with some conditions and exceptions. Watters was also ordered to pay to the ASC $1,013,137.81 obtained as a result of his non-compliance with Alberta securities laws, along with an administrative penalty of $150,000 and costs of $15,055.81.

The panel found that Hunter bore less responsibility than Watters, but continued to participate in the unregistered trading operation despite being aware of registration concerns raised by securities regulators. The panel ordered 16-year market-access bans against Hunter, with some conditions and exceptions. Hunter was also ordered to pay to the ASC $600,000 obtained as a result of his non-compliance with Alberta securities laws, along with an administrative penalty of $125,000 and costs of $15,055.81.

HW & Associates Inc. and HW TradeFX LLC are subject to permanent market-access bans.

In its decision, the panel noted that "the capital market as a whole is negatively affected by this type of misconduct, as the efficiency of the market and confidence in it both suffer when registration requirements and associated protections are ignored or abused."

A copy of the decision is available on the ASC website at asc.ca.

The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting 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, please contact: For Media inquiries: Tanja McMorris, Senior Advisor, Communications, [email protected]; For Investor inquiries: ASC Public Inquiries, Toll Free 1.877.355.4488, [email protected]