Former Calgary broker settles with ASC

CALGARY, Sept. 27, 2018 /CNW/ - The Alberta Securities Commission (ASC) has concluded a Settlement Agreement and Undertaking with Calgary area former broker Richard Kenneth Moore for a breach of Alberta securities laws relating to trading in the shares of Kilimanjaro Capital Ltd. (Kilimanjaro).

In the settlement agreement, Moore admitted that he acted contrary to the public interest by failing in his role as a capital markets gatekeeper to make inquiries into suspicious and unusual circumstances surrounding the trading of Kilimanjaro shares in certain accounts. Moore also admitted that he failed to take necessary steps to make himself aware of, and comply with, an April 3, 2014 cease trade order issued by the ASC with respect to Kilimanjaro. At the time, Moore was assisting a long-time client in the deposit and trading of shares in Kilimanjaro, then quoted for trading on the US over-the-counter market.

As part of the Settlement Agreement, Moore paid the ASC $15,000 and is prohibited from becoming or acting as a registrant for a period of five years.

Moore was a respondent in a Notice of Hearing issued by the ASC on October 11, 2017. The hearing into the allegations against the remaining respondents is scheduled to commence on October 1, 2018.

A copy of the Settlement Agreement is available on the ASC website at albertasecurities.com.

The ASC is the regulatory agency responsible for administering the province's securities laws. 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.

SOURCE Alberta Securities Commission