Alberta Securities Commission

Regenx Announces Delay in Filing of Annual Filings and Application for Management Cease Trade Order

Retrieved on: 
Friday, April 12, 2024
Annual, Corporation, National Policy, News, Certification, Policy, Financial statement, RGX, Chartered, YRS, National instrument, Bank statement, File, Alberta Securities Commission

In response to the Annual Filings delay, the Corporation has applied to the Alberta Securities Commission for a management cease trade order (“MCTO”) under National Policy 12-203 – Management Cease Trade Orders ("NP 12-203") that will prohibit the management of the Corporation from trading in the securities of the Corporation until such time as the Annual Filings are filed.

Key Points: 
  • In response to the Annual Filings delay, the Corporation has applied to the Alberta Securities Commission for a management cease trade order (“MCTO”) under National Policy 12-203 – Management Cease Trade Orders ("NP 12-203") that will prohibit the management of the Corporation from trading in the securities of the Corporation until such time as the Annual Filings are filed.
  • The Alberta Securities Commission may grant the application and issue the MCTO or it may impose an issuer cease trade order if the Annual Filings are not filed in a timely fashion.
  • Regenx has made all efforts and allocated all available resources to the preparation, completion and filing of the Annual Filings.
  • Until the Corporation files the Annual Filings, it will comply with the alternative information guidelines set out in NP 12-203.

ExxonMobil Makes Application to Cease to be a Reporting Issuer in Canada

Retrieved on: 
Monday, April 15, 2024
Energy, Other Energy, Oil, Gas, ExxonMobil, ASC, Bank statement, OSC, Ontario Securities Commission, XOM, Alberta Securities Commission, Payment card

Exxon Mobil Corporation (NYSE: XOM) announced today that it has applied to the Alberta Securities Commission (ASC), as principal regulator, and the Ontario Securities Commission (OSC) for a joint order (the Order Sought) to cease to be a reporting issuer in each of the provinces of Canada.

Key Points: 
  • Exxon Mobil Corporation (NYSE: XOM) announced today that it has applied to the Alberta Securities Commission (ASC), as principal regulator, and the Ontario Securities Commission (OSC) for a joint order (the Order Sought) to cease to be a reporting issuer in each of the provinces of Canada.
  • ExxonMobil is not a reporting issuer in any other Canadian jurisdiction.
  • If the Order Sought is granted by the ASC and the OSC, ExxonMobil will cease to be a reporting issuer in any jurisdiction in Canada.
  • Notwithstanding a decision that ExxonMobil is not a reporting issuer in Canada, ExxonMobil will continue to file all financial statements and other continuous disclosure materials required to be filed by it in accordance with the applicable securities laws of the United States and the rules of the New York Stock Exchange (NYSE).

CSA publishes research on impact of Client Relationship Model Amendments on industry and investor behaviour

Retrieved on: 
Thursday, April 25, 2024
ETF, Investment, MERS, Research, National instrument, CRM2, CSA, Alberta Securities Commission, Disclosure, Financial adviser

TORONTO, April 25, 2024 /CNW/ - The Canadian Securities Administrators (CSA) today published two research reports that examined the investment fund industry and investor behaviour following the implementation of the Client Relationship Model Phase 2 (CRM2) Amendments.

Key Points: 
  • TORONTO, April 25, 2024 /CNW/ - The Canadian Securities Administrators (CSA) today published two research reports that examined the investment fund industry and investor behaviour following the implementation of the Client Relationship Model Phase 2 (CRM2) Amendments.
  • The research findings suggest that overall industry behaviour has been shifting in directions that are consistent with the study hypothesis on the impact of these regulations.
  • The findings also provide evidence that disclosure-based regulations may be an effective tool in changing industry and investor behaviour.
  • It is important to note that the changes in industry behaviour cannot be directly attributed to the CRM2 amendments.

Canadian securities regulators publish next steps to facilitate access to real-time market data

Retrieved on: 
Thursday, April 18, 2024
Steps, DFM, Consultant, Environment, British Columbia Securities Commission, Ontario Securities Commission, Feedback, CSA, TSX Venture Exchange, Alberta Securities Commission

TORONTO, April 18, 2024 /CNW/ - The Canadian Securities Administrators (CSA) today published Staff Notice 21-334 Next Steps to Facilitate Access to Real-Time Market Data (RTMD) which summarizes the comments received to the Consultation Paper published in November 2022, and advises stakeholders of the CSA's next steps to address the access to and use of RTMD.

Key Points: 
  • TORONTO, April 18, 2024 /CNW/ - The Canadian Securities Administrators (CSA) today published Staff Notice 21-334 Next Steps to Facilitate Access to Real-Time Market Data (RTMD) which summarizes the comments received to the Consultation Paper published in November 2022, and advises stakeholders of the CSA's next steps to address the access to and use of RTMD.
  • Real-time market data provides vital information about equity securities markets and its access is key for market participants, investors, and their advisers to make informed investment, routing, and execution decisions.
  • The Alberta Securities Commission and British Columbia Securities Commission expect to review whether to pursue a similar approach for the TSX Venture Exchange.
  • The CSA, the council of the securities regulators of Canada's provinces and territories,
    co-ordinates and harmonizes regulation for the Canadian capital markets.

Former registrant settles with the ASC for unregistered dealing

Retrieved on: 
Monday, April 15, 2024
ASC, Vexatious litigation, AB, Alberta Securities Commission, Private investigator

He introduced, promoted and discussed the agreements with the investors and provided them with the company's promotional materials, which projected high rates of return.

Key Points: 
  • He introduced, promoted and discussed the agreements with the investors and provided them with the company's promotional materials, which projected high rates of return.
  • The ASC gratefully acknowledges the assistance of the United States Securities and Exchange Commission (SEC) in this matter.
  • The ASC is the regulatory agency responsible for administering the province's securities laws.
  • As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.

Joint Forum of Financial Market Regulators discusses emerging trends and innovation in Canadian markets at annual meeting

Retrieved on: 
Monday, April 15, 2024
Total cost, Total, FSRA, CCIR, Alberta Securities Commission, Government, Innovation, Partnership, Insurance, Artificial intelligence, Research, Council, Cost, Guideline, TCR, CSA, Joint Forum, Organization, Chair, Cryptocurrency

QUÉBEC, April 15, 2024 /CNW/ - The Joint Forum of Financial Market Regulators (Joint Forum) held its annual meeting on April 10, 2024, bringing together members of the Canadian Securities Administrators (CSA), the Canadian Council of Insurance Regulators (CCIR), the Canadian Association of Pension Supervisory Authorities (CAPSA) and representatives from the Canadian Insurance Services Regulatory Organizations (CISRO), as well as the Mortgage Broker Regulators' Council of Canada (MBRCC).

Key Points: 
  • QUÉBEC, April 15, 2024 /CNW/ - The Joint Forum of Financial Market Regulators (Joint Forum) held its annual meeting on April 10, 2024, bringing together members of the Canadian Securities Administrators (CSA), the Canadian Council of Insurance Regulators (CCIR), the Canadian Association of Pension Supervisory Authorities (CAPSA) and representatives from the Canadian Insurance Services Regulatory Organizations (CISRO), as well as the Mortgage Broker Regulators' Council of Canada (MBRCC).
  • As part of the plenary session, moderated by the Chair of the CSA Financial Innovation Hub Lise Estelle Brault, Joint Forum regulators heard from experts on how artificial intelligence (AI) technologies bring emerging benefits for financial markets participants, but also pose new risks.
  • "As regulators, we will maintain fair and efficient capital markets and remain vigilant in promoting the responsible development of AI in finance."
  • The CSA, the council of the securities regulators of Canada's provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.

ASC alleges market manipulation scheme of Softlab9 Software Solutions Inc. shares

Retrieved on: 
Tuesday, April 9, 2024
Database transaction, FINTRAC, ASC, AB, CIRO, Financial Industry Regulatory Authority, FINRA, Alberta Securities Commission

Rahim Shiraz Ali Abdul Karim Karmali Mohamed) and Alnoor Fatehali Nathoo, and British Columbia residents Marc Evan Levy and Michael Baron.

Key Points: 
  • Rahim Shiraz Ali Abdul Karim Karmali Mohamed) and Alnoor Fatehali Nathoo, and British Columbia residents Marc Evan Levy and Michael Baron.
  • The Notice of Hearing alleges that the group engaged in a market manipulation scheme and committed insider reporting violations in breach of Alberta securities laws.
  • ASC Staff allege the group engaged in a pattern of trading that involved market manipulation hallmarks of upticks, downticks, high closes, wash trades and bid support.
  • As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.

ASC alleges Calgary resident Craig Michael Thompson, Black Box Management Corp., and Invader Management Ltd. breached Alberta securities laws

Retrieved on: 
Friday, April 5, 2024
Interim order, Alberta Securities Commission, AB, ASC, Charles Ponzi, Private investigator

CALGARY, AB, April 5, 2024 /CNW/ - The Alberta Securities Commission (ASC) has issued a Notice of Hearing alleging that Craig Michael Thompson along with two companies he controlled, Black Box Management Corp. and Invader Management Ltd., perpetrated a fraud on investors and breached registration requirements.

Key Points: 
  • CALGARY, AB, April 5, 2024 /CNW/ - The Alberta Securities Commission (ASC) has issued a Notice of Hearing alleging that Craig Michael Thompson along with two companies he controlled, Black Box Management Corp. and Invader Management Ltd., perpetrated a fraud on investors and breached registration requirements.
  • According to the Notice of Hearing, Thompson raised about $150 million from approximately 1,000 investors between March 2020 and September 2023.
  • Most investors provided funds for Thompson to trade in securities on their behalf.
  • As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.

ASC issues public interest orders in response to criminal fraud conviction against Nickolas Donovan Ellis

Retrieved on: 
Wednesday, March 27, 2024
NHL, Alberta Securities Commission, AB, Criminal code, The Criminal Code, ASC, Sale, Acquisition, Deception, Fraud, Software, Private investigator

Ellis was also convicted of three counts of trafficking in forged documents and three counts of identity fraud and was sentenced to seven years in prison.

Key Points: 
  • Ellis was also convicted of three counts of trafficking in forged documents and three counts of identity fraud and was sentenced to seven years in prison.
  • The remaining two fraud convictions stem from bridge financing for a construction project and a business acquisition scheme.
  • An ASC panel found that Ellis' fraud convictions arose from a course of conduct related to securities and that it was in the public interest to issue an order against him under the Securities Act (Alberta).
  • As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.

Ali Ghani, Prism, and Prism Summerside Development Corp. ordered to pay over $3.4M for misappropriating funds

Retrieved on: 
Monday, March 25, 2024
Disclosure, Alberta Securities Commission, AB, ASC, Sale, Investment

CALGARY, AB, March 25, 2024 /CNW/ - The Alberta Securities Commission (ASC) has sanctioned Ali Ghani and the following entities he controlled for breaching Alberta securities laws and perpetrating a fraud on investors: Summerside Development Trust, Summerside Commercial Trust, Prism Summerside Limited Partnership, Prism Summerside Development Corp. and Prism Real Estate Investment Corporation.

Key Points: 
  • CALGARY, AB, March 25, 2024 /CNW/ - The Alberta Securities Commission (ASC) has sanctioned Ali Ghani and the following entities he controlled for breaching Alberta securities laws and perpetrating a fraud on investors: Summerside Development Trust, Summerside Commercial Trust, Prism Summerside Limited Partnership, Prism Summerside Development Corp. and Prism Real Estate Investment Corporation.
  • An ASC panel previously found that between January 2013 and April 2018, Ghani and the other named entities misappropriated over $3.4 million from the development and sale of a strip mall in the Summerside neighbourhood of Edmonton, Alberta.
  • 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.