ASC settles with former investment adviser Kris Sundell - WLNS TV 6 Lansing - Jackson | Your Local News Leader

ASC settles with former investment adviser Kris Sundell

Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact pressreleases@worldnow.com.

SOURCE Alberta Securities Commission

CALGARY, Feb. 21, 2014 /CNW/ - The Alberta Securities Commission (ASC) has concluded a Settlement Agreement (the Agreement) with Kris Sundell (Sundell) for breaches of Alberta securities laws relating to market manipulation.  In the Agreement, Sundell admitted that he engaged in a course of conduct relating to the securities of Teras Resources Inc. (Teras) that he knew or reasonably ought to have known resulted in a false and misleading appearance of trading activity and in an artificial price.

Sundell admitted that he engaged in numerous uptick trades (that is, at a price higher than the previous trade) and high close trades at the end of the day in shares of Teras from January 1 to June 30, 2011. He also admitted that his trading activity was contrary to the public interest.

Under the Agreement, Sundell, paid the ASC $45,000 and agreed to cease trading in or purchasing securities for five years.

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

©2012 PR Newswire. All Rights Reserved.

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and WLNS. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.

Click Here to link to the FCC's public inspection file for WLNS-TV and Here to view the WLAJ-TV file. Persons with Disabilities who need assistance with issues relating to the content of this station's FCC public inspection file should contact: Teresa Morton- Program Director for WLNS and WLAJ at 517-372-8282. Questions or concerns relating to the accessibility of the FCC's public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or fccinfo@fcc.gov.