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Aug 20, 2019
CALGARY – August 20, 2019 - The Alberta Securities Commission (ASC) has issued a Notice of Hearing against Nicholas (Nick) John Felgate in connection with an alleged breach of an Interim Cease Trade Order (ICTO). The ASC panel issued the ICTO on March 2, 2018. It was subsequently extended and is still in effect until the outcome of any proceedings held under the Securities Act (Alberta).
The Notice of Hearing states that on or about May 29, 2019, Felgate traded securities described as “Lender/Loan Personal Non Securities Related Agreement Promissory Notes” to at least two investors. The Notice of Hearing alleges that investments made through these agreements are securities within the meaning of the Act, and that Felgate has breached the ICTO by selling these securities to investors. The allegations have not been proven.
The ICTO prohibits Felgate from trading in all securities. The term “securities” is broadly defined and includes a wide range of investments, loans, fees, guaranteed fees or returns, etc., and designed to cover virtually every method by which money could be raised from the public. If anyone uses language like high interest returns, guaranteed returns, limited-time offer, or that they’re doing this to help people out, potential investors should be especially cautious. The ASC reminds anyone approached about an investment opportunity to visit CheckFirst.ca and see if their investment professional is registered or has been named in any proceedings.
Felgate will appear before an ASC panel on August 29, 2019 at 2:00 p.m. in the ASC Hearing Room on the 5th floor, 250 – 5 Street SW, Calgary, Alberta.
A copy of the Notice of Hearing can be found on the ASC website at albertasecurities.com.
For further information please contact:
For Media Inquiries:
For Investor Inquiries:
Curt Boechler Senior Communications Advisor 403-835-1263
ASC Public Inquiries Toll Free: 1-877-355-4488