CALGARY, Feb. 12, 2015 /CNW/ - The Alberta Securities Commission (ASC) has sanctioned Robert Baker for Multi-Corp. International's failure to comply with a December 4, 2012 ASC cease trade order. Baker was the company's sole director and officer when the breach, which was admitted, occurred.
The ASC panel ordered that Baker:
- must cease trading in or purchasing securities, and is prohibited from acting as a director or officer (or both) of any issuer, registrant or investment fund manager, until February 9, 2019; and
- must pay an administrative penalty of $20,000 and $5,000 towards the cost of the investigation into this matter.
The ASC panel noted that contravention of an ASC order is a serious matter: "Wilful disregard of such an order erodes market confidence, affecting the willingness of the public to invest and the ability of law-abiding issuers to raise capital."
To date, the ASC's December 4, 2012 cease trade order has not been revoked or varied.
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 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: For Media Inquiries: Mark Dickey, Senior Communications Advisor, 403.297.4481; For Investor Inquiries: ASC Public Inquiries, Toll Free 1.877.355.4488