Securities regulators in Alberta and Ontario are pursuing reciprocal orders against a firm that has already been sanctioned by the British Columbia Securities Commission (BCSC) for unregistered trading and an illegal distribution.

The Alberta Securities Commission (ASC) said today that its staff are seeking to reciprocate an order imposed by the BCSC against JV Raleigh Superior Holdings Inc., Maisie Smith (aka Maizie Smith) and Ingram Jeffrey Eshun. “The ASC seeks reciprocation of the BCSC order to protect Alberta investors and the Alberta capital market,” it notes.

Back on December 24, 2012, the BCSC ordered that, among other things, Eshun and Smith be permanently banned from trading, registration, and becoming an officer or director of any issuer. It also ordered that all trading in the securities of JV Raleigh permanently cease. This order followed a BCSC panel finding that they had traded without being registered and distributed securities without filing a prospectus, contrary to BCSC rules.

Earlier, the Ontario Securities Commission (OSC) also published allegations indicating that it too is seeking to reciprocate the BCSC order. Its seeing to hold a written hearing in the case, and today issued an order requiring that its staff file their materials for the planned hearing by March 8; and that counsel for the respondents advise the commission by April 8 whether they object to a written hearing in this case. If not, they are to file a response by April 15; if they do object a hearing will be held on April 15 to consider whether to go ahead with a written, or an oral, hearing.

The ASC says that it expects a hearing panel will consider the application for a reciprocal order in March or April.