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The national registration search contains the names of all individuals and firms who are registered to sell securities in Canada.

Jun 19

ASC sanctions Ferlyn Chmelyk and associates for breaching Alberta securities laws

An Alberta Securities Commission (ASC) panel has sanctioned five respondents – Ferlyn Robert John Chmelyk, Blackbridge Financial Inc. (BFI), 1735560 Alberta Ltd. (560), 1735563 Alberta Ltd. (563), and 1751886 Alberta Ltd. (886) – for breaching Alberta securities laws. As outlined in the merits decision from February 2017, Chmelyk and BFI illegally traded and distributed securities and made materially untrue statements to investors; Chmelyk, 560, 563 and 886 illegally distributed securities; 563 failed to file exempt-distribution reports; and Chmelyk authorized, permitted or acquiesced in the corporate respondents' contraventions of Alberta securities laws. In rendering their sanction decision, the ASC panel ordered that: Chmelyk must pay an administrative penalty of $75,000, and $90,000 of the costs of the investigation and hearing; Chmelyk must resign all positions he holds as a director or officer (or both), and is prohibited from becoming a director or officer (or both) of any issuer, registrant, or investment fund manager; and Chmelyk, BFI, 560, 563, and 886 be subject to a number of market access bans including engaging in investor relations activities, advising in securities or derivatives, and acting in a management or consultative capacity in connection with activities in the securities market. Chmelyk’s sanctions are in effect until the later of 10 years and the date on which the administrative penalty ordered has been paid in full to the ASC. The sanctions against companies 560, 563 and 886 are in effect for 10 years, and the sanctions against BFI are with permanent effect. The ASC panel stated “We consider [the misconduct of BFI and Chmelyk] to be very serious. It caused [investors] to make important investment decisions based on materially false information.” A copy of the sanction decision can be found on the ASC website at - 30 - For more information: Read more

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