The B.C. Securities Commission reached a settlement with a senior executive of three publicly traded companies who failed to file insider reports as required by securities law.

Gregory Fedun has agreed to pay $5,000 and not to trade securities for one year except for in one account in his own name for his failure to report his trading activities in Iciena Ventures Inc., Candorado Operating Company Ltd., and Algorithm Media Inc. Fedun is a director of all three TSX Venture Exchange listed companies. He is also Iciena’s president.

As part of his settlement, Fedun cannot be a director or officer of any reporting issuer, other than Iciena, Candorado and Algorithm, until he has completed a course on the duties and responsibilities of directors and officers.