The Alberta Securities Commission issued a public interest order against Jeffrey Brian Ber following criminal court findings of fraud and corruptly accepting a secret commission, imposing immediate and time-limited prohibitions that bar him from participating in Alberta’s capital markets in specified capacities. Under the order, Ber must immediately resign from all director and officer positions he holds with any issuer, registrant, investment fund manager, and various recognized or designated market entities, subject to limited exceptions. For 10 years from the date of the decision, he must cease trading in or purchasing any securities or derivatives (subject to limited exceptions), all exemptions under Alberta securities laws do not apply to him, and he is prohibited from registration in any capacity and from activities including investor relations, advising in securities or derivatives, acting as a registrant, investment fund manager or promoter, and acting in a management or consultative capacity in connection with securities market activities. The underlying criminal findings included two counts of fraud over CAD 5,000 and one count of corruptly accepting a CAD 104,568.75 secret commission from Blackbird Energy Inc. While employed as a registered investment advisor at a Canadian bank in March 2017, Ber allocated approximately CAD 6 million of Blackbird shares to client accounts during a prospectus offering for proceeds of up to CAD 80 million, without disclosing a pre-existing relationship with Blackbird or the commission he would receive, and with investments deemed high-risk relative to client risk tolerances; the court also found he created or helped create falsified know-your-client forms that altered client risk tolerances without their knowledge or permission.

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