The Alberta Securities Commission (ASC) announced on Friday that Blaine Russell Kennedy has been given a nine-month conditional sentence and a seven-year ban from acting as an officer or director of any issuer that trades in or issues securities or derivatives after pleading guilty to making illegal trades and distributions of securities.

The ASC reports that Kennedy and another man, Adam Gilchrist Drybrough, both pled guilty in connection with the distribution of the securities of the Lucid Group of Cos., which had never filed a prospectus. The pair, who were never registered, also admitted to allowing agents of the firm to trade and distribute Lucid securities.

Drybrough received the same sentence as Kennedy on June 25, when the pleas were initially entered. The remainder of the charges that the ASC brought against the two men have been withdrawn.