The Alberta Securities Commission (ASC) has issued permanent market bans against Brian David Anderson of British Columbia.

The reciprocal orders permanently prohibit Anderson from trading in or purchasing securities or relying on exemptions under the Alberta Securities Act, from acting as a director or officer of any issuer (with one exception), and from disseminating any type of information that relates to investing in, purchasing or selling securities or exchange contracts.

The ASC decision is based on a British Columbia Securities Commission (BCSC) order of June 21, 2007 that imposed similar sanctions on Anderson. According to the BCSC’s findings, Anderson illegally raised approximately $14.7 million from 342 people through two investment schemes, Frontier Assets and the Alpha Program. Evidence presented to the ASC panel showed that 24 of these investors were Alberta residents.

In its decision, the ASC panel noted that even though Anderson now claims to “recognize and understand” Canadian securities laws, “more is needed to protect the investing public and other market participants and to deter Anderson. Moreover, we discern a need for general deterrence of others who might be inclined to act in a similar fashion.”

A copy of this decision can be found on the ASC website at www.albertasecurities.com.

A copy of the BCSC’s order is available on the BCSC website at www.bcsc.bc.ca.