ASC reciprocates permanent bans against MI Capital Corporation and One Capital Corp. Limited

CALGARY, Aug. 2, 2012 /CNW/ - The Alberta Securities Commission (ASC) has reciprocated permanent bans imposed by the New Brunswick Securities Commission (NBSC) on MI Capital Corporation and One Capital Corp. Limited.

An ASC panel has permanently prohibited all trading in MI Capital Corporation and One Capital Corp. Limited securities and permanently banned MI Capital Corporation and One Capital Corp. Limited from trading in securities and using Alberta securities laws exemptions. The ASC panel issued the bans to protect Alberta investors and the Alberta capital market.

In a May 29, 2012 Statement of Allegations, NBSC staff alleged that MI Capital Corporation of Hong Kong and One Capital Corp. Limited of Singapore solicited New Brunswick residents to invest in gold options when the corporations were not registered to trade in securities, there was no prospectus and there were no available exemptions.

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.

SOURCE: Alberta Securities Commission

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