Briefly:

Previous Brieflies this week: | MON | TUE | WED | THU |

(October 27, 2006) The Alberta Securities Commission has ordered an Edmonton man who admitted to illegal trading to pay $18,000 to the regulator.

In a settlement agreement released on Friday, Richard Kearl admitted that in 2004, he solicited $105,500 from four Alberta investors on the basis that the investors would receive their money back along with shares in a publicly-traded company, calling the investment a “once in a lifetime” opportunity.

While investors received shares of Canglobe, they did not get their money back, the commission said. Kearl admitted that he illegally distributed Canglobe securities, and that he also traded in securities of NCC and GeNOsys Biotechnologies without being registered.

In addition to the fine, Kearl has agreed to cease trading in and purchasing securities, except for trades made through a registered representative in an RRSP account, for five years.

Kearl, who has never been registered as a trader in Alberta, was previously sanctioned by the commission in 1982 for illegal distribution of securities.

• • •

RBC cuts fees on two funds

(October 27, 2006) RBC Asset Management says it is reducing the management fee on the RBC DS North American Focus Fund and the RBC DS Canadian Focus Fund, effective November 1.

Fees on the Advisor class versions of the funds will be cut to 1.85% from 2%, while the F-class version falls to 0.75% from 0.85%.

Both funds are available exclusively through RBC Dominion Securities.

• • •

SEDAR releases updated user manual

(October 27, 2006) Securities regulators have released an updated filer manual for users of SEDAR, the system for electronic document analysis and retrieval.

The manual hasn’t been revised since 2001 and, since then, there have been many changes to the system in terms of both document types and functionality, the Canadian Securities Administrators said in a staff notice released on Friday.

The manual will be available on the websites of securities regulators in British Columbia, Alberta, Manitoba, Northwest Territories, Nova Scotia, Ontario and Quebec, as well as on SEDAR.com.

• • •