CALGARY, Aug. 30 /CNW/ - The Alberta Securities Commission (ASC)
announced today the completion of settlements with Calgary-based lawyer John
Anderson and the Rundle Development Cooperative.
In their respective settlement agreements, both John Anderson and Rundle
admit to breaching Alberta securities laws by engaging in illegal trades and
distributions of Rundle "membership shares", "investment shares" and
investments in syndicated mortgages that resulted in the raising of
approximately $9 million from 140 Alberta residents.
Under the settlement agreements, John Anderson paid $25,000 to the
Commission and agreed to cease trading in and purchasing securities, refrain
from relying on any exemptions contained in the Alberta securities laws, and
refrain from acting as a director and officer of any issuer (with minor
exceptions) for a period of two years.
For its part, the Rundle Development Cooperative agreed to permanently
cease trading in or purchasing any securities and refrain from relying on any
exemptions contained in the Alberta securities laws. Rundle is currently
undergoing liquidation and dissolution proceedings under the supervision of
the Court of Queen's Bench of Alberta and all funds recovered through that
process will be used to repay creditors and investors of Rundle.
A copy of the Settlement Agreement and Undertaking for both John Anderson
and the Rundle Development Cooperative are posted on the ASC 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, (403) 297-4296, Toll Free 1-877-355-4488