The Alberta Securities Commission (ASC) has ordered a five-year market ban (with exceptions), payment of a $50,000 administrative penalty and $125,000 in costs by James Anderson of Calgary.

The order follows a Feb. 21, 2007 decision by the majority of an ASC panel that found that Anderson had contravened the Alberta Securities Act in 2002 through improper trading activity in relation to shares of seven publicly traded companies.

In accepting the joint recommendation of staff and counsel for Anderson, the panel concluded that “We believe that any orders we make must send a clear message of general deterrence to all market participants: trading that results or may result in artificial prices is not tolerated in Alberta.”

A copy of the decision is available on the ASC Web site.