Alberta Securities Commission

ASC highlights top investment scams to watch out for in 2024

Retrieved on: 
Wednesday, January 24, 2024
ASC, Research, Sound, Trust, Affection, Athlete, Friends, Name, Embarrassment, Fraud, Intensive care medicine, AB, Love, Law enforcement, Alberta Securities Commission, Communication, Shame, Cryptocurrency

Each year, the ASC reviews investor complaints, ongoing investigations and current enforcement trends to raise awareness of scams targeting Alberta investors.

Key Points: 
  • Each year, the ASC reviews investor complaints, ongoing investigations and current enforcement trends to raise awareness of scams targeting Alberta investors.
  • For 2024, the regulator noted that there are many types of frauds affecting investors, however variations of crypto scams are the most pervasive.
  • The ASC encourages all Albertans to be aware of scam trends and to do their research and registration checks before investing.
  • Celebrity or athlete endorsements of investment opportunities may seem appealing, however investors should be wary of promises of high returns, risk-free investing or free money.

Canadian securities regulators seek feedback on rules for public investment funds holding crypto assets

Retrieved on: 
Thursday, January 18, 2024
Crypto, Risk, CSA, Comment, Investment, Alberta Securities Commission, National instrument, Chair, Cryptocurrency

TORONTO, Jan. 18, 2024 /CNW/ - The Canadian Securities Administrators (CSA) today published for comment a set of proposed regulatory requirements for public investment funds that seek to invest in crypto assets.

Key Points: 
  • TORONTO, Jan. 18, 2024 /CNW/ - The Canadian Securities Administrators (CSA) today published for comment a set of proposed regulatory requirements for public investment funds that seek to invest in crypto assets.
  • The proposed amendments tailor requirements for public investment funds investing in crypto assets to better protect investors and reduce risk.
  • The proposed amendments are the second phase of a project to implement a Canadian regulatory framework for public investment funds holding crypto assets.
  • The CSA reminds Canadians that investing in crypto assets, even through public investment funds, is higher risk and may not be suitable for most retail investors.

ASC sanctions Devon Christopher Edwards and KB Crypto Inc. for securities misconduct

Retrieved on: 
Tuesday, January 16, 2024
Crypto, Respondent, Hearing, AB, ASC, Alberta Securities Commission, Contract for difference, Prospectus, Cryptocurrency

CALGARY, AB, Jan. 16, 2024 /CNW/ - The Alberta Securities Commission (ASC) has sanctioned Devon Christopher Edwards and KB Crypto Inc. (the Respondents) for breaching Alberta securities laws.

Key Points: 
  • CALGARY, AB, Jan. 16, 2024 /CNW/ - The Alberta Securities Commission (ASC) has sanctioned Devon Christopher Edwards and KB Crypto Inc. (the Respondents) for breaching Alberta securities laws.
  • Edwards and KB Crypto were also engaged in the business of trading in securities but did not register as required under Alberta securities laws.
  • The panel also ordered KB Crypto to permanently cease trading in, purchasing, or advising in securities or derivatives, and that all trading in or purchasing of securities or derivatives of KB Crypto must cease.
  • As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.

ASC extends Interim Order against Crypto Asset Trading Platform CatalX CTS Ltd., operating as Catalyx

Retrieved on: 
Saturday, January 6, 2024
Interim, AB, Alberta Securities Commission, ASC, PRU, Hearing

CALGARY, AB, Jan. 5, 2024 /CNW/ - The Alberta Securities Commission (ASC) has extended an Interim Cease Trade Order against CatalX CTS Ltd., operating as Catalyx, and Jae Ho Lee (collectively, the Respondents).

Key Points: 
  • CALGARY, AB, Jan. 5, 2024 /CNW/ - The Alberta Securities Commission (ASC) has extended an Interim Cease Trade Order against CatalX CTS Ltd., operating as Catalyx, and Jae Ho Lee (collectively, the Respondents).
  • Catalyx previously filed an enhanced pre-registration undertaking (PRU) with the ASC.
  • The ASC is investigating whether Catalyx breached its undertakings in the PRU or the Respondents otherwise breached Alberta securities laws.
  • A copy of the Interim Order: Extension can be found on the ASC website at asc.ca .

Oil & gas employee pays $400,000 to ASC and agrees to 10-year trading ban for insider trading

Retrieved on: 
Wednesday, December 27, 2023
AB, Vexatious litigation, Vermilion, Acquisition, Alberta Securities Commission, ASC, Crocotta, Employment

Haghshenas paid $400,000 to the Alberta Securities Commission and has undertaken to cease trading in or purchasing securities or derivatives for 10 years, per the terms of a settlement agreement.

Key Points: 
  • Haghshenas paid $400,000 to the Alberta Securities Commission and has undertaken to cease trading in or purchasing securities or derivatives for 10 years, per the terms of a settlement agreement.
  • Haghshenas was a Senior Reservoir Specialist for Vermillion Energy Inc.
  • A copy of the Settlement Agreement and Undertaking is available on the ASC website at asc.ca.
  • As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.

David Del Bianco sentenced to 4.5 years in jail for fraud and money laundering

Retrieved on: 
Wednesday, December 20, 2023
AB, IMET, Lethbridge Police Service, JSOT, Partnership, Private law, Alberta Securities Commission, ASC, Court, The Honourable, Fraud, FINTRAC, Calgary Police Service, Crime, Criminal code, The Criminal Code, Database transaction, Private investigator

Del Bianco ran and promoted an investment purporting to be a legal services insurance company, marketed under the name Equal Rights.

Key Points: 
  • Del Bianco ran and promoted an investment purporting to be a legal services insurance company, marketed under the name Equal Rights.
  • In reality, it was nothing but a scheme, through which the Court found that Del Bianco defrauded investors of no less than $523,832.50.
  • Del Bianco was sentenced to 4.5 years imprisonment on the fraud conviction, less credit for time already served, and one year to be served concurrently on the money laundering conviction.
  • IMET is a specialized unit under the Alberta RCMP Federal Policing program that detects, investigates, and deters market fraud.

Canadian Banc Corp. Announces Successful Overnight Offering of Preferred Shares

Retrieved on: 
Thursday, November 16, 2023
Sale, Alberta Securities Commission, Associated Banc-Corp, TSX, National bank, Financial adviser

TORONTO, Nov. 16, 2023 (GLOBE NEWSWIRE) -- Canadian Banc Corp. (the “Company’) is pleased to announce it has completed the overnight marketing of Preferred Shares (TSX: BK.PR.A) of the Company.

Key Points: 
  • TORONTO, Nov. 16, 2023 (GLOBE NEWSWIRE) -- Canadian Banc Corp. (the “Company’) is pleased to announce it has completed the overnight marketing of Preferred Shares (TSX: BK.PR.A) of the Company.
  • Total gross proceeds of the offering are expected to be approximately $85.0 million.
  • The sales period of the overnight offering has now ended.
  • The closing price on the TSX of the Preferred Shares on November 15, 2023 was $9.96.

Canadian Banc Corp. Announces Overnight Offering of Preferred Shares

Retrieved on: 
Wednesday, November 15, 2023
Sale, EST, Alberta Securities Commission, Associated Banc-Corp, TSX, National bank, DBRS, Airline, Financial adviser

TORONTO, Nov. 15, 2023 (GLOBE NEWSWIRE) -- Canadian Banc Corp. (the “Company’) is pleased to announce it will undertake an offering of Preferred Shares (TSX: BK.PR.A) of the Company.

Key Points: 
  • TORONTO, Nov. 15, 2023 (GLOBE NEWSWIRE) -- Canadian Banc Corp. (the “Company’) is pleased to announce it will undertake an offering of Preferred Shares (TSX: BK.PR.A) of the Company.
  • The sales period of this overnight offering will end at 9:00 a.m. EST on November 16, 2023.
  • Since the inception of the Company, 219 consecutive dividends have been declared for the Preferred shares.
  • The Company has been advised by DBRS that effective November 17, 2023, the rating on the Preferred shares will be Pfd-3 (low).

Carbeeza Inc. Announces Private Placement

Retrieved on: 
Friday, December 1, 2023
Vehicle Technology, Aftermarket, Automotive, Technology, Software, Artificial Intelligence, Private placement, Alberta Securities Commission, TSX Venture Exchange, Artificial intelligence, Warrant, Nature, Unit, Existence, Friends, Prospectus, Private, Inc., News, Security (finance)

Carbeeza Inc. ("Carbeeza" or the "Company") (TSX.V:AUTO) (OTCQB: CRBAF) is pleased to announce that it intends to complete a non-brokered private placement (the "Private Placement") of up to 10,000,000 units of the Company (“Units”) at a price of $0.20 per Unit for gross proceeds of $2,000,000.

Key Points: 
  • Carbeeza Inc. ("Carbeeza" or the "Company") (TSX.V:AUTO) (OTCQB: CRBAF) is pleased to announce that it intends to complete a non-brokered private placement (the "Private Placement") of up to 10,000,000 units of the Company (“Units”) at a price of $0.20 per Unit for gross proceeds of $2,000,000.
  • The Company encourages existing shareholders who wish to participate in the Private Placement to contact the Company at the contact details below.
  • The Private Placement is expected to close in late 2023 on such date as may be determined by the directors of the Company.
  • The closing of the Private Placement is subject to regulatory approval including but not limited to, the approval of the TSXV.

New advisory committee to foster connection between technological innovation and securities regulation

Retrieved on: 
Thursday, December 7, 2023
Knowledge, Associate, Canadian Securities Administrators, Alberta Securities Commission, Knowledge management, Chair, AB, ASC, Research, University of Alberta, University of Calgary, Computer science, Digital asset, Committee, University, Innovation, Medical device, Blockchain, Information security

CALGARY, AB, Dec. 7, 2023 /CNW/ - The Alberta Securities Commission (ASC) today announced the establishment of a new advisory committee that aims to ensure securities regulation considers existing and emerging technologies.

Key Points: 
  • CALGARY, AB, Dec. 7, 2023 /CNW/ - The Alberta Securities Commission (ASC) today announced the establishment of a new advisory committee that aims to ensure securities regulation considers existing and emerging technologies.
  • The Technology and Innovation Advisory Committee will bring together experts and ASC staff to facilitate a better understanding of new technology and its application to the Alberta capital market.
  • Concurrently, the committee will identify areas of securities regulation that create challenges for financial technology entrepreneurs and existing businesses, dealers, investors and advisors.
  • As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.