Alberta Securities Commission

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.

Canadian securities regulators issue statements on proposed sustainability disclosure standards and ongoing climate consultation

Retrieved on: 
Wednesday, March 13, 2024
Disclosure, Alberta Securities Commission, CSA, Chair, Legislation

We strongly encourage interested and affected parties to share their views on the proposed CSSB standards."

Key Points: 
  • We strongly encourage interested and affected parties to share their views on the proposed CSSB standards."
  • In order to become mandatory under Canadian securities legislation, the CSSB standards must first be incorporated into a CSA rule.
  • Once the CSSB consultation is complete and its standards are finalized, the CSA anticipates seeking comment on a revised rule setting out climate-related disclosure requirements.
  • The CSA, the council of the securities regulators of Canada's provinces and territories, coordinates and harmonizes regulation for the Canadian capital markets.

DMG Blockchain Solutions Announces Investment in Digital Asset Custody Solution

Retrieved on: 
Thursday, February 22, 2024
Crypto, DMG, Fidelity, FINTRAC, Meta Platforms, TC Energy, Alberta Securities Commission, State-owned enterprise, CAD, LLB, Head, Ethics, Marketing, Bank, MBA, CFE, CFA, CBV, Cloud computing, PLG, AML, MEM, GTM, Carbon, FATF, Meta, Trust, Bank of America, Insurance, TSX, Public sector, MLRO, CFP, Family, International (Amtrak train)

VANCOUVER, British Columbia, Feb. 22, 2024 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB US: DMGGF) (FRANKFURT: 6AX) (“DMG”), a vertically integrated blockchain and data center technology company, announces it has committed CAD $3.5 million to establish a Calgary, Alberta based independent digital asset custody solution for institutional clients.

Key Points: 
  • VANCOUVER, British Columbia, Feb. 22, 2024 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB US: DMGGF) (FRANKFURT: 6AX) (“DMG”), a vertically integrated blockchain and data center technology company, announces it has committed CAD $3.5 million to establish a Calgary, Alberta based independent digital asset custody solution for institutional clients.
  • The capital commitment for this digital asset custody solution will be made over time and as required to support the regulatory review process.
  • Sheldon Bennett, CFE, MBA - CEO and Director of DMG Blockchain Solutions and Chair of Systemic Trust.
  • Most recently as Binance Canada’s Chief Technology Officer, he spearheaded the implementation and launch of its Crypto Trading Platform and digital asset custody service.

ASC dismisses allegations against David Keith Talbot

Retrieved on: 
Friday, March 8, 2024
AB, ASC, Alberta Securities Commission

CALGARY, AB, March 8, 2024 /CNW/ - The Alberta Securities Commission (ASC) has dismissed allegations that David Keith Talbot breached the Securities Act (Alberta) and acted contrary to the public interest by misleading investors in connection with securities of Weslease Income Growth Fund.

Key Points: 
  • CALGARY, AB, March 8, 2024 /CNW/ - The Alberta Securities Commission (ASC) has dismissed allegations that David Keith Talbot breached the Securities Act (Alberta) and acted contrary to the public interest by misleading investors in connection with securities of Weslease Income Growth Fund.
  • An ASC panel concluded that the specific allegations had not been proved and declared the proceeding concluded.
  • 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.

Canadians urged to remain vigilant in the face of rising investment fraud

Retrieved on: 
Thursday, March 7, 2024
AB, Social media, Investment, News, Fraud, CSA, Learning, Alberta Securities Commission, Risk, Chair, Research, Cryptocurrency

CALGARY, AB, March 7, 2024 /CNW/ - To mark Fraud Prevention Month, the Canadian Securities Administrators (CSA) is reminding Canadians to remain vigilant about potential investment scams and misleading advice.

Key Points: 
  • CALGARY, AB, March 7, 2024 /CNW/ - To mark Fraud Prevention Month, the Canadian Securities Administrators (CSA) is reminding Canadians to remain vigilant about potential investment scams and misleading advice.
  • "Investment fraud is prevalent and increasingly sophisticated, affecting investors across the country," said Stan Magidson, CSA Chair and Chair and CEO of the Alberta Securities Commission.
  • "It's more crucial than ever for people to safeguard their financial interests by learning more about current scams, and verifying sources of investment information."
  • To help protect investors from fraud, the CSA encourages Canadians to:
    Verify information sources: Don't rely solely on online content or influencers that promote investment advice.

ASC alleges Canmore resident James Domenic Floreani and Jayconomics Inc. breached Alberta securities laws

Retrieved on: 
Tuesday, February 27, 2024
AB, Social media, ASC, Publishing, Alberta Securities Commission, Act, Patreon, Security (finance)

CALGARY, AB, Feb. 27, 2024 /CNW/ - The Alberta Securities Commission (ASC) has issued a Notice of Hearing alleging that James Domenic Floreani and Jayconomics Inc. breached Alberta securities laws by publishing content on social media that promoted securities of certain issuers without disclosing that they had been paid by those issuers to make the social posts on their behalf.

Key Points: 
  • CALGARY, AB, Feb. 27, 2024 /CNW/ - The Alberta Securities Commission (ASC) has issued a Notice of Hearing alleging that James Domenic Floreani and Jayconomics Inc. breached Alberta securities laws by publishing content on social media that promoted securities of certain issuers without disclosing that they had been paid by those issuers to make the social posts on their behalf.
  • According to the Notice of Hearing, between November 2020 and March 2022, Floreani and Jayconomics were paid by four Alberta reporting issuers to post favourable content on their behalf on YouTube, X (formerly Twitter) and Patreon.
  • 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.

Canadian securities regulators warn registrants about impersonation scam

Retrieved on: 
Wednesday, February 21, 2024
AB, Chair, CSA, Organization, Alberta Securities Commission, Plumbing

CALGARY, AB, Feb. 21, 2024 /CNW/ - The Canadian Securities Administrators (CSA) is warning registrants of an email impersonating CSA Chair and Chair and CEO of the Alberta Securities Commission, Stan Magidson.

Key Points: 
  • CALGARY, AB, Feb. 21, 2024 /CNW/ - The Canadian Securities Administrators (CSA) is warning registrants of an email impersonating CSA Chair and Chair and CEO of the Alberta Securities Commission, Stan Magidson.
  • The emails are believed to be malicious "spear phishing" attempts by unknown individuals who are trying to obtain personal information or confidential business information.
  • Is the message from someone you know who works at the CSA or one of its member organizations?
  • 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 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.