Alberta Securities Commission staff are seeking to ban Brian David Anderson of White Rock, British Columbia from Alberta capital markets.

In a notice of hearing, ASC staff seek a reciprocal order in Alberta similar to orders made on June 21, 2007 by the B.C. Securities Commission that permanently prohibit Anderson from trading in securities or engaging in investor relations activities in B.C.

The BCSC order was based on findings that Anderson had:

    solicited Canadian residents to invest funds with two entities, Frontier Assets and the Alpha Program;

  • made false or misleading representations of large and guaranteed returns on investments;
  • used investor funds for purposes other than those represented to the investors; and
  • failed to register with the BCSC in any capacity.



    ASC staff allege that between 2000 and 2004 Anderson attempted to conduct trades in securities and provided advice to Alberta residents with respect to investing in, buying and selling securities and that during this time roughly 22 Alberta residents and other investors paid Anderson approximately $7 million.

    A hearing to consider whether to impose a reciprocal order against Anderson has been scheduled for December 7.