ASC finds John Rochard and Global Social Capital Partners breached Alberta securities laws

CALGARY, Feb. 5, 2016 /CNW/ - The Alberta Securities Commission (ASC) has found that John Byron Rochard and Global Social Capital Partners, Inc. illegally traded in Global Social securities (before September 28, 2009), illegally distributed Global Social securities and made materially untrue statements to investors.  An ASC panel also found that Global Social failed to file required exempt-distribution reports and that Rochard authorized, permitted or acquiesced in Global Social's contraventions of Alberta securities laws.

The ASC panel dismissed other allegations against Rochard and Global Social, including allegations that they made prohibited listing representations.

All parties have until February 19, 2016 to submit their views on a timetable for providing evidence and submissions concerning what, if any, orders for sanctions and costs ought to be made.

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 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.

SOURCE Alberta Securities Commission

For Media Inquiries: Mark Dickey, Senior Communications Advisor, 403.297.4481; For Investor Inquiries: ASC Public Inquiries, Toll Free 1.877.355.4488