Supreme Court of Canada denies ASC's leave to appeal illegal insider trading case

CALGARY, March 26, 2015 /CNW/ - The Supreme Court of Canada has denied an Alberta Securities Commission (ASC) application for leave to appeal a decision of the Alberta Court of Appeal, Walton  v. Alberta (Securities Commission). The ASC was seeking the Supreme Court's guidance on the standard of proof and evidence required to prove illegal insider trading allegations and on the resulting determination of sanctions. 

"The ASC remains vigilant in monitoring for suspected insider trading and undeterred in pursuing illegal insider trading investigations," said Bill Rice, Chair and CEO of the Alberta Securities Commission. "We have proven illegal insider trading allegations in the past and the public can have confidence that the ASC will continue its efforts to prosecute these illegal actions, which are a threat to the integrity of Alberta's capital markets."

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


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