British Columbia Securities Commission: Former CEO Agrees to Sanctions in Settlement With BCSC
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/14/11 -- As part of a settlement agreement in an insider trading case, a B.C. man has agreed to pay $15,695 to the British Columbia Securities Commission.
The agreement states that John B. Good sold shares of Abbastar Resources Corp. (Abbastar) while in a special relationship with the company and in possession of material information that had not been generally disclosed. Good was a director of Abbastar, a resource exploration company that trades on the TSX Venture Exchange, during the period in question. At the time he made some of the trades at issue, Good was also Abbastar's President and CEO.
In March and April of 2010, Good sold shares in Abbastar before assay results from one of the company's projects, the Talbot Lake gold project in Ontario, had been generally disclosed. These assay results were known to Good prior to their public disclosure, and constituted material facts and material changes with respect to Abbastar.
In addition to paying $15,695, Good is also subject to several restrictions under the Securities Act. The Executive Director of the BCSC has ordered that Good be prohibited from purchasing or trading securities or exchange contracts of any issuer with whom he is in a special relationship for three years, and that he be prohibited from acting as a director or officer of any issuer for one year.
The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province. You may view the settlement agreement on our website by typing Good or 2011 BCSECCOM 462 in the search box. Information regarding disciplinary proceedings can be found in the of the BCSC website.
Please visit the Canadian Securities Administrators' for information relating to persons disciplined by provincial securities regulators, the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association (MFDA).
If you have questions, contact Richard Gilhooley, media relations, 604-899-6713. For public inquiries, call 604 899 6854 or 1 800 373 6393 (toll free).
Learn how to protect yourself and become a more informed investor at .
Contacts:
British Columbia Securities Commission
Richard Gilhooley
Media Relations
604-899-6713 or 1-800-373-6393 (toll free)
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Datum: 14.10.2011 - 12:30 Uhr
Sprache: Deutsch
News-ID 76231
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VANCOUVER, BRITISH COLUMBIA
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