News Release

Vancouver - British Columbia Securities Commission panels have made reciprocal orders in four decisions against four individuals who were sanctioned by the Manitoba and the Ontario Securities Commissions.

Peter George Lee, Betty Leung, Jack George Wladyka and Sheldon Terry Heidebrecht are subject to orders made by BCSC panels.

BCSC commission panels may make reciprocal enforcement orders following a streamlined process when another security regulatory authority has imposed sanctions on a person. Commission panel reciprocal enforcement orders impose market bans on individuals or companies, which can include one or more of the following sanctions:

• cease trading in and purchasing securities and exchange contracts;
• a prohibition from becoming or acting as a director or officer of any issuer, registrant or investment fund manager;
• a prohibition from becoming or acting as a registrant, investment fund manager or promoter;
• a prohibition from acting as a manager or consultant in the securities market; and
• a prohibition from engaging in investor relations activities

Under the BCSC enforcement orders:

• Lee is subject to market bans in B.C until July 3, 2023. Leung is subject to permanent market bans in B.C. The BCSC orders (BCSECCOM 482 and 483) are based on OSC decisions rendered July 3, 2008 and June 25, 2008.
• Heidebrecht is subject to market bans in B.C until May 28, 2013. Wladyka is subject to permanent market bans in B.C. The BCSC orders (BCSECCOM 481 and 484) are based on MSC decisions rendered May 28, 2008.

For more information on the orders and decisions, use the name of the individual or document references to conduct a search at www.bcsc.bc.ca, www.msc.gov.mb.ca or www.osc.gov.on.ca.

The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province. If you have questions, contact Ken Gracey, Media Relations, 604-899-6577.