ASC denies registration of Harrington Capital Partners Inc. and Blaine Russell Kennedy

CALGARY, Feb. 17, 2012 /CNW/ - The Executive Director of the Alberta Securities Commission (ASC) has denied the application for registration of Harrington Capital Partners Inc. as an Exempt Market Dealer and Blaine Russell Kennedy as a Dealing Representative and the Ultimate Designated Person for Harrington.

Harrington Capital Partners and Kennedy had asked for the opportunity to be heard by ASC's Executive Director after ASC staff recommended refusal of their registration applications to the Executive Director.

The Executive Director concluded that Kennedy is unsuitable and objectionable as a registrant in Alberta on the grounds he has demonstrated "a lack of integrity and competence which is fundamental to being a registrant in the Alberta capital markets."  Harrington Capital Partners' registration approval was dependent upon Kennedy being successful in his application, so accordingly its application was found not suitable.

The Executive Director also ordered that to the extent that Kennedy and Harrington were relying upon a registration exemption under section 16.7 of National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations, they were no longer entitled to rely upon that exemption.

A copy of the decision 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 to foster a fair and efficient capital market in Alberta and to protect investors.  As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.

For Media Inquiries: Lorinda Brinton
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403.297.2665

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