British Columbia Securities Commission

British Columbia Securities Commission

June 20, 2008 09:30 ET

BCSC Issues Market Bans Based on Alberta Securities Commission Orders

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 20, 2008) - British Columbia Securities Commission panels have made reciprocal orders in five separate decisions against 11 individuals who violated Alberta securities laws. The BCSC orders are based on Alberta Securities Commission (ASC) orders made in 2007 and 2008.

Under the BCSC order that is based on a March 12, 2008 ASC decision in Innovative Energy Solutions, Inc., Re, 2008 ABASC 136:

- Patrick Joseph Cochrane is banned, with limited exceptions, from B.C. capital markets for 10 years. He is also prohibited, with limited exceptions, from being a director or officer of any issuer, registrant or investment fund manager, being a registrant, investment fund manager or promoter, and from engaging in investor relations activities in B.C., for the same period.

Under the BCSC order that is based on an April 10, 2008 ASC decision in TSS Management Corp., Re, 2008 ABASC 215:

- Sidney John Reisner and Gregory Daniel MacPherson are banned, with limited exceptions, from B.C. capital markets for three years. They are also each prohibited, with limited exceptions, from being a director or officer of any issuer, registrant or investment fund manager, being a registrant, investment fund manager or promoter, and from engaging in investor relations activities in B.C., for the same period.

Under the BCSC order that is based on a Jan. 25, 2008 ASC decision in Genoray Advanced Technologies Ltd., Re, 2008 ABASC 52:

- Richard George Kearl is banned, with limited exceptions, from B.C. capital markets for 15 years, and Wyatt Gordon McNabb is banned, with limited exceptions, for five years. They are also each prohibited, with limited exceptions, from being a director or officer of any issuer, registrant or investment fund manager, being a registrant, investment fund manager or promoter, and from engaging in investor relations activities in B.C., for the same period of their respective market bans.

- Douglas Andrew Nesbitt is prohibited, with limited exceptions, from being a director or officer of any issuer, registrant or investment fund manager, being a registrant, investment fund manager or promoter, and from engaging in investor relations activities in B.C., for 10 years. He is also prohibited from acting as a manager or consultant in connection with the securities market for the same period.

- Ross Vincent Bayne cannot trade or purchase securities in B.C., with limited exceptions, for three years.

Under the BCSC order that is based on an Oct. 10, 2007 ASC decision in Atlas Communications Inc., Re, 2007 ABASC 749:

- George Oscar Amyotte is banned, with limited exceptions, from B.C. capital markets for 20 years. He is also prohibited, with limited exceptions, from being a director or officer of any issuer, registrant or investment fund manager, being a registrant, investment fund manager or promoter, and from engaging in investor relations activities in B.C., for the same period.

Under the BCSC order that is based on a Nov. 5, 2007 ASC order regarding Topsis Investments Canada Inc., Re, 2007 ABASC 811:

- Forbes John McLeod and Larry Kenneth McLeod are banned, with limited exceptions, from B.C. capital markets for 25 years. They are also each prohibited, with limited exceptions, from being a director or officer of any issuer, registrant or investment fund manager, being a registrant, investment fund manager or promoter, and from engaging in investor relations activities in B.C., for the same period.

- Delmer Allen Watt cannot trade or purchase securities in B.C., with limited exceptions, for 10 years.

Under Section 161(6)(c) of the B.C. Securities Act, the commission "may, after providing an opportunity to be heard, make an order under subsection (1) in respect of a person if the person has been found by a securities regulatory authority or court in another jurisdiction to have contravened the laws of the jurisdiction respecting trading in securities or exchange contracts."

A copy of the ASC decisions are available at www.albertasecurities.com.

The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province. You may view the BCSC decisions on our website www.bcsc.bc.ca by typing in the search box the names of the individuals identified above, or 2008 BCSECCOM 332, 333, 338, 339 or 343. If you have questions, contact Ken Gracey, Media Relations, 604-899-6577.

Learn how to avoid investment fraud at the BCSC's investor education website: www.investright.org.

Contact Information

  • British Columbia Securities Commission
    Ken Gracey
    Media Relations
    (604) 899-6577 or (B.C. & Alberta) 1-800-373-6393
    Website: www.bcsc.bc.ca