British Columbia Securities Commission

British Columbia Securities Commission

December 16, 2010 14:15 ET

BCSC Executive Director's Bulletin: Securities Regulator Gives Notice of a Hearing Into Alleged Illegal Insider Trading

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 16, 2010) - The executive director of the British Columbia Securities Commission has issued a notice of hearing alleging that a B.C. man sold shares in a publicly traded company when he knew of undisclosed information.

The notice of hearing says that in March and April, 2010, John B. Good sold shares of Abbastar Resources Corp. when he was a director of the company and knew about assay results that had not yet been generally disclosed.

The notice alleges that by selling shares in Abbastar when he was in a special relationship with the company, and knew of the results when those results had not been generally disclosed, Good engaged in insider trading.

These allegations have not been proven. Counsel for the executive director will apply to set dates for a hearing into the allegations before a panel of commissioners on January 5, 2011.

The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province. You can view the notice of hearing on our website, www.bcsc.bc.ca. If you have questions, contact Brenda Lea Brown, 604-899-6554.

Contact Information

  • British Columbia Securities Commission
    Brenda Lea Brown
    604-899-6554 or (Canada) 1-800-373-6393
    www.bcsc.bc.ca