ASC Issues Permanent Orders against Wayne Paul Larson

CALGARY, Feb. 19 /CNW/ - The Alberta Securities Commission (ASC) has reciprocated a Mutual Fund Dealers Association of Canada (MFDA) decision and permanently banned Wayne Paul Larson from: advising in securities; becoming or acting as a registrant, investment fund manager or promoter; and acting in a management or consultative capacity in connection with activities in the securities market.

An ASC panel based its reciprocal orders on an October 14, 2009 MFDA decision that permanently prohibited Larson from conducting securities-related business in any capacity with an MFDA member. The MFDA found that Larson committed misconduct involving unauthorized transactions, forgery and directing or permitting clients to direct redemption proceeds through accounts held by Larson or under Larson's control. The MFDA also found that Larson facilitated approximately $1.34 million in investments that were not carried out in accordance with MFDA rules.

In making its reciprocal orders, the ASC panel noted that the MDFA decision "addresses mutual fund industry misconduct of a serious nature" and that, in the circumstances, "Larson poses a risk of harm to Alberta investors and the Alberta capital market."

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 further information: For Media Inquiries: Mark Dickey, Senior Communications Advisor, [phone]; For Investor Inquiries: ASC Public Inquiries Toll Free, 1-877-355-4488