ASC settles with former investment adviser Kris Sundell - News, Weather & Sports

ASC settles with former investment adviser Kris Sundell

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SOURCE Alberta Securities Commission

CALGARY, Feb. 21, 2014 /CNW/ - The Alberta Securities Commission (ASC) has concluded a Settlement Agreement (the Agreement) with Kris Sundell (Sundell) for breaches of Alberta securities laws relating to market manipulation.  In the Agreement, Sundell admitted that he engaged in a course of conduct relating to the securities of Teras Resources Inc. (Teras) that he knew or reasonably ought to have known resulted in a false and misleading appearance of trading activity and in an artificial price.

Sundell admitted that he engaged in numerous uptick trades (that is, at a price higher than the previous trade) and high close trades at the end of the day in shares of Teras from January 1 to June 30, 2011. He also admitted that his trading activity was contrary to the public interest.

Under the Agreement, Sundell, paid the ASC $45,000 and agreed to cease trading in or purchasing securities for five years.

A copy of the Settlement Agreement is available on the ASC website at

The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting investors.  As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.

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