Well, the first one was a bit long. This one is much shorter...
ISSUANCE OF ENFORCEMENT PROCEEDINGS BY EACH OF THE ASC, BCSC AND TSE RELATED TO CARTAWAY RESOURCES CORP.
TORONTO, July 20 /CNW/ - By Notice of Hearing issued today, each of the Alberta Securities Commission ("ASC"), the British Columbia Securities Commission ("BCSC") and the Toronto Stock Exchange ("TSE"), has given notice to the parties of their intention to commence enforcement proceedings against Cartaway Resources Corp. ("Cartaway"), First Marathon Securities Limited ("First Marathon"), certain current and former First Marathon employees and other parties associated with Cartaway.
Since commencement of the investigations following the events surrounding the reactivation of Cartaway and leading up to the announcement of assay results on May 17, 1996, the ASC, the Alberta Stock Exchange ("ASE"), the BCSC and the TSE have coordinated their investigative efforts in an effort to avoid duplication of regulatory involvement in these matters. In general terms, issues have been pursued by the regulatory bodies noted based on the nature and the location of the alleged offence. For example, alleged breaches of the provincial securities acts were examined by the ASC and BCSC, supervision and member firm/registrant conduct was examined by the TSE (with the assistance of the Investment Dealers Association of Canada) and the trading of Cartaway was examined by the ASE. The enforcement proceedings of the ASE have been included in the proceedings issued by the ASC.
The regulatory bodies noted will continue to coordinate their regulatory efforts throughout the settlement and/or prosecution of each of the enforcement proceedings in connection with these matters.
In addition, the TSE's proceedings encompass the charges originally brought against First Marathon and certain officers and employees in 1996 relating to the firm's supervisory procedures, and additional charges relating to other supervisory failures.
Copies of the Notice of Hearing issued by each of the ASC, BCSC and/or TSE may be obtained by contacting the issuing body at the number noted below.
In addition, any questions may be directed to the following:
ASC:
Ms. Anne Brown
(403) 297-4226
ASE:
Ms. Patricia Johnston
(403) 974-7408
TSE:
Ms. Brenda Edwards
(416) 947-4684
BCSC:
Mr. Michael Bernard
(604) 899-6524
For further information:
Brenda Edwards
TSE Media Services Associate,
Tel. (416) 947-4684
bedwards@tse.com
Source: CNW
newswire.ca |
