BCSC Executive Director's Bulletin: Securities Regulator Issues Notice of Hearing Seeking Orders Against West Vancouver Man for Illegal Insider Trading
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/08/11 -- The executive director of the British Columbia Securities Commission has issued a notice of hearing alleging that a West Vancouver man breached securities laws when he purchased securities in an Alberta company that was planning to hire a new president and CEO.
The notice alleges that Jerome John Rak (Rak) had knowledge of Velo Energy Inc.'s plan to hire Arthur Millholland, the former president and CEO of Oilexco Inc, when he purchased 172,000 shares in the company.
The notice also alleges that:
These allegations have not been proven. Counsel for the executive director will apply to set dates for a hearing into the allegations before a panel of commissioners on September 19, 2011 at 9:00am.
The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province. You may view the notice of hearing on our website by typing Rak or 2011 BCSECCOM 371 in the search box. Information regarding disciplinary proceedings can be found in the Enforcement section (/enforcement.asp) of the BCSC website.
Please visit the Canadian Securities Administrators' Disciplined Persons List () 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 (Canada) 1-800-373-6393
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Datum: 08.08.2011 - 16:00 Uhr
Sprache: Deutsch
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