The Alberta Securities Commission (ASC) has reciprocated permanent bans imposed by the New Brunswick Securities Commission (NBSC) on MI Capital Corp. and One Capital Corp. Ltd.

An ASC panel has permanently prohibited all trading in securities of the two firms and permanently banned them from trading in securities and using Alberta securities laws exemptions.

In a May 29 statement of allegations, NBSC staff alleged that MI Capital of Hong Kong and One Capital of Singapore solicited New Brunswick residents to invest in gold options when the corporations were not registered to trade in securities, there was no prospectus and there were no available exemptions.

Other provinces have also moved to implement bans against the two firms.