The Alberta Securities Commission (ASC) has discontinued enforcement proceedings against Sholina Somji-Healing of Red Deer, Alberta.
In a March 2012 ASC Notice of Hearing it was alleged that in 2010 Somji-Healing participated in illegal insider trading with respect to Matrikon Inc. shares and also misled ASC investigators. In a Notice of Discontinuance issued on August 3, 2012, ASC staff withdrew the allegations and discontinued the proceedings against Somji-Healing.
The Notice of Hearing also included allegations against Somji-Healing’s brother Nizar Jaffer Somji of Edmonton. A hearing into that matter is scheduled to begin on August 13, 2012 in the ASC Hearing Room on the 5th floor, 250 – 5th Street S.W., Calgary, Alberta.
The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted to foster a fair and efficient capital market in Alberta and to protect investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.
For further information please contact:
For Media Inquiries: Mark Dickey
Senior Communications Advisor
For Investor Inquiries: ASC Public Inquiries
Toll Free 1.877.355.4488