The Alberta Securities Commission (ASC) has reciprocated bans the Ontario Securities Commission (OSC) imposed against Richard Moore, reversing an earlier decision.

Earlier this year, an ASC panel declined to follow the OSC in banning the former investment banker amid allegations of improper insider trading, citing a lack of information in the case. (See Investment Executive, ASC panel declines to reciprocate OSC order, March 12, 2014.)

On April 16, 2013, the OSC issued an order approving a settlement agreement between OSC staff and Moore.

Moore admitted to acting contrary to the public interest and (in respect of one issuer) engaging in illegal insider trading in contravention of Ontario securities laws. There was also a parallel investigation by the United States Securities and Exchange Commission, which reached a settlement with Moore.

In its decision today to reciprocate the OSC bans, an ASC panel ordered that, from April 16, 2013, Moore:

> must (with limited exceptions) cease trading in or purchasing securities, and all Alberta securities laws exemptions do not apply to him, for 10 years;

> is prohibited from becoming or acting as a director or officer (or both) of any reporting issuer, for 10 years; and

> is prohibited from becoming or acting as a registrant, an investment fund manager, a promoter in respect of a reporting issuer, or a director or officer (or both) of any registrant or investment fund manager, for 15 years.