The Alberta Securities Commission has issued a cease trade order against Enrique (Henry) Rempel of British Columbia, ruling he poses a risk to Alberta investors and the Alberta capital market.

The order prohibits Rempel from trading in or purchasing securities or using Alberta Securities Act exemptions (with one exception) until June 29, 2019.

Rempel is also prohibited from acting as a director or officer of any issuer (with one exception) until at least June 29, 2019.

The ASC decision is based on a British Columbia Securities Commission order of June 29, 2007 that imposed sanctions including a 12-year trading ban on Rempel. The BCSC order stemmed from Rempel’s raising of approximately $3.6 million through illegal trades and distributions of various securities to approximately 37 people. Evidence presented to the ASC panel showed that two of these investors were Alberta residents who had invested approximately $15,000.

In its decision, the ASC panel noted that even though Rempel has no plans to move to Alberta, “his past conduct nonetheless persuades us that something more, by way of protective and deterrent orders, is in the interest of the Alberta public. Otherwise, we are concerned that Rempel, or others, could engage in similar misconduct and expose Alberta investors and the Alberta capital market to further harm.”

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.