The Alberta Securities Commission (ASC) has reciprocated bans imposed by the Ontario Securities Commission (OSC) against Colby Cooper Capital Inc., Colby Cooper Inc., Pac West Minerals Limited, and John Douglas Lee Mason.

The OSC approved settlement agreement with sanctions in April, in which the respondents admitted that they breached Ontario securities laws. (See Investment Executive, OSC settles fraud charges, April 24, 2013.)

In reciprocating sanctions imposed by the OSC panel, an ASC panel ordered, among other things, that the respondents permanently cease trading in or purchasing securities and be denied the use of all exemptions under Alberta securities laws (with limited exceptions for Mason). As well, the respondents are permanently prohibited from becoming or acting as a registrant, investment fund manager or promoter, and Mason is permanently prohibited from becoming or acting as a director or officer (or both) of any issuer, registrant or investment fund manager.