British Columbia Securities Commission

British Columbia Securities Commission

April 24, 2009 09:30 ET

BCSC Panels Reciprocate ASC and OSC Enforcement Orders

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 24, 2009) - British Columbia Securities Commission panels have reciprocated enforcement orders against five individuals sanctioned by securities commissions in Alberta and Ontario.

The Alberta Securities Commission imposed sanctions on Milowe Brost, Edna Forrest, Carol Weeks and Bradley Regier in a decision rendered July 10, 2007 in Capital Alternatives Inc., Re, 2007 ABASC 482. The BCSC panel reciprocated the ASC orders against the four individuals, banning them from participating in B.C.'s capital markets.

The Ontario Securities Commission imposed sanctions on May 5, 2008 against John Alexander Cornwall, David Simpson, Jerome Stanislaus Xavier, CGC Financial Services Inc. and First Financial Services. The BCSC has reciprocated the OSC order against Cornwall, permanently banning him from participating in B.C.'s capital markets. The BCSC reciprocated OSC enforcement orders against Simpson and Xavier in January 2009.

The BCSC makes reciprocal enforcement orders following a streamlined process when another commission has imposed sanctions on a person or the person has agreed with another commission to be sanctioned. BCSC orders can include one or more of the following sanctions:

- 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

For more information on the BCSC orders or the ASC or OSC decisions and sanctions, search for the individual's name at, 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 Andrew Poon, media relations, 604-899-6880.

Learn how to avoid investment fraud at the BCSC's investor education website:

Contact Information

  • British Columbia Securities Commission
    Andrew Poon
    Media Relations
    604-899-6880 or (Canada) 1-800-373-6393