Former registrant settles with the ASC for unregistered dealing

CALGARY, AB, April 15, 2024 /CNW/ - The Alberta Securities Commission (ASC) has concluded a Settlement Agreement and Undertaking with Denis Jerome Poelzer, of Calgary, for acting as a dealer without being registered in accordance with Alberta securities laws.

From May 2020 to September 2020, Poelzer solicited approximately $145,000 from six investors to enter into investment agreements, which were characterized as joint venture agreements, with a U.S. company. He introduced, promoted and discussed the agreements with the investors and provided them with the company's promotional materials, which projected high rates of return. None of the investors received any returns on their investment or repayment of their principal.

Poelzer admitted to his misconduct, paid $30,000 to the Alberta Securities Commission and is prohibited from trading in, purchasing or advising in securities or derivatives (with limited exceptions), or acting as a registrant, investment fund manager or promoter for a period of at least three years. Poelzer is required to complete an industry course before these prohibitions are removed.

Poelzer, who has no previous history of misconduct, was previously a registered representative in the securities industry from 2003 to 2014.

A copy of the Settlement Agreement and Undertaking is available on the ASC website at asc.ca.

The ASC gratefully acknowledges the assistance of the United States Securities and Exchange Commission (SEC) in this matter.

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.

SOURCE Alberta Securities Commission