CALGARY, Feb. 26 /CNW/ - The Alberta Securities Commission (ASC) has announced a settlement with Bradley Arthur Wilson regarding allegations of illegal insider trading of Alberta Clipper Energy Inc. securities. Under the settlement agreement, Wilson paid the ASC approximately $44,000 to settle the allegations and an additional $14,900 towards ASC investigation costs.
Wilson, who was the operations manager for Alberta Clipper Energy, admitted to breaching Alberta securities laws when he purchased Alberta Clipper Energy shares in July and September 2006 with knowledge of the company's drilling results before this information was made public. Wilson acknowledged he sold some of these shares immediately following one of two Alberta Clipper Energy news releases announcing drilling results. The combined actual profit and accrued gain from Wilson's share purchases was approximately $29,400.
A copy of the settlement agreement can be found 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