VANCOUVER, July 9 /CNW/ - British Columbia Securities Commission panels
have made reciprocal orders in five decisions against eight individuals who
were sanctioned by the Alberta Securities Commission.
Lambert "Bert" Lavallee, Wai-Leung Cheng (aka Danny Cheng), Lisa Wong, J.
Gordon Ironside, Robert W. Ruff, Howard Hills, Terry Leong and William Douglas
Henderson are subject to orders made by BCSC panels that are based on Alberta
Securities Commission (ASC) orders made between 2006 and 2008.
BCSC commission panels may make reciprocal enforcement orders following a
streamlined process when another security regulatory authority has imposed
sanctions on a person. Commission panel reciprocal enforcement orders impose
market bans on individuals or companies, which can include one or more of the
- cease trading in and purchasing securities and exchange contracts;
- a prohibition from becoming or acting as a director or officer of any
issuer, registrant or investment fund manager;
- a prohibition from becoming or acting as a registrant, investment
fund manager or promoter;
- a prohibition from acting as a manager or consultant in the
securities market; and
- a prohibition from engaging in investor relations activities
Under the BCSC enforcement orders:
- Lavallee is subject to market bans until Feb. 7, 2013. The BCSC order
(BCSECCOM 371) is based on an ASC decision in Lavallee, Re, 2008,
- Cheng is subject to market bans until Nov. 13, 2014, and Wong is
subject market bans until Nov. 13, 2010. The BCSC orders (BCSECCOM
370) are based on an ASC decision in Cheng, Re 2007 ABASC 834.
- Ironside is permanently banned from B.C. capital markets, and Ruff is
subject to market bans until Nov. 7, 2017. The BCSC orders (BCSECOMM
373) are based on an ASC decision in Ironside, Re, 2007 ABASC 824.
- Hills is subject to market bans until Jan. 23, 2017. The BCSC order
(BCSECOMM 368) is based on an ASC decision in Hills, Re, 2007
- Leong and Henderson are subject to market bans until Nov. 16, 2016.
The BCSC orders (BCSECOMM 372) are based on an ASC decision in
526053 B.C. Ltd., Re, 2006 ABASC 1795.
For more information on the BCSC orders and ASC decisions use the name of
the individual or document references to conduct a search at www.bcsc.bc.ca or
The B.C. Securities Commission is the independent provincial government
agency responsible for regulating trading in securities within the province.
If you have questions, contact Ken Gracey, Media Relations, 604-899-6577.
Learn how to avoid investment fraud at the BCSC's investor education
For further information:
For further information: Ken Gracey, (604) 899-6577 or (B.C. & Alberta)