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ASC panel dismisses allegations against Proforma Capital Inc. and related parties

CALGARY , Oct. 31, 2019 /CNW/ - An Alberta Securities Commission (ASC) panel has dismissed allegations of misrepresentation and fraud against Robert Joseph Frost , Joseph Antonio (Anthony) Francese , Scott Anthony Reed , Proforma Capital Bond (II) Corporation and Proforma Capital Inc.

In reaching its decision that ASC Staff had not proven the allegations, the panel noted its conclusion "does not in any way condone the questionable business acumen demonstrated by Frost, Francese and Reed in their conduct of Proforma affairs."

A copy of the decision can be found on the ASC website at albertasecurities.com.

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

View original content: http://www.newswire.ca/en/releases/archive/October2019/31/c8128.html