CALGARY, Dec. 4, 2014 /CNW/ - The Alberta Securities Commission (ASC) and Gordon Mak have agreed to settle allegations made by ASC staff against Mak in an Amended Notice of Hearing dated April 30, 2014.
Under the Settlement Agreement, Mak paid the ASC $95,000 for settlement and costs, and for a period of six years agreed to cease trading in securities (with exceptions), refrain from using any exemptions contained in Alberta Securities laws and refrain from advising in securities.
Mak admitted in the Agreement to breaching Alberta securities laws in connection with Goldenrod Resources Inc. and Clean Power Technologies Inc. securities by trading and providing investment advice without registration, engaging in an illegal distribution, and concealing some of his activities from ASC staff investigators.
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