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Nov. 21, 2012 /CNW/ - The Alberta Securities Commission (ASC) has concluded a settlement with Sundre Development Ltd.,
Aspen Springs Capital Group Inc. and their principal
William Joseph Sander, a.k.a. "Bill Sander".
Under the Settlement Agreement, Sander agreed to pay the ASC
$40,000 in settlement plus
$11,000 in costs and undertook to cease acting as a director or officer of any issuer for eight years. Sander also undertook to cease trading in or purchasing securities and to not use any exemptions contained in
Alberta securities laws for eight years. Sundre Development and Aspen Springs Capital Group undertook to cease trading in or purchasing securities and to not use any
Alberta securities laws exemptions for a period of one year.
In the Settlement Agreement, Sander, Sundre Development and Aspen Springs Capital Group admitted to an illegal distribution and making misrepresentations to
Alberta investors, and Sundre Development admitted to filing misleading documents with the ASC.
A copy of the
Settlement Agreement can be found on the ASC website at
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