US-based broker agrees to settlement for unregistered trading

CALGARY, Oct. 2, 2017 /CNW/ - The Alberta Securities Commission (ASC) has concluded a Settlement Agreement and Undertaking with EOX Holdings Ltd., arising out of trades in Alberta without registration.

EOX, an introducing broker based in Delaware, U.S., admitted to engaging in trades in Alberta without registration or an exemption. The trading was identified by ASC staff and EOX in the course of an application by EOX for exemptive relief from the registration requirement in Alberta. From 2012 to 2016, EOX serviced 14 clients in Alberta, earning commissions in excess of $900,000. EOX has never established a physical presence in Alberta, and did not directly solicit business from Alberta clients.

"Efficiently addressing market fairness issues supports one of our strategic pillars ? to provide proactive and comprehensive compliance and enforcement," said Lynn Tsutsumi, Director, Market Regulation.

In the settlement agreement, EOX agreed to pay the Commission $35,000, plus costs of $5,000.

A copy of the Settlement Agreement is available on the ASC website at www.albertasecurities.com.

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.

SOURCE Alberta Securities Commission