The Alberta Securities Commission (ASC) has found that Glenn Donald Hunter, Kyle William Watters, and companies they controlled, HW & Associates Inc. and HW TradeFX LLC, breached Alberta securities laws by acting as dealers for foreign exchange trading without being registered. An ASC panel determined that between February 2021 and February 2023 the respondents raised about CAD 20 million from approximately 200 investors, and that all admitted they engaged in the business of trading without dealer registration. The proceeding now moves to a second phase to determine whether sanctions and/or cost-recovery orders should be made, with timing to be set after hearing from the parties.
Alberta Securities Commission 2025-10-09
Alberta Securities Commission finds Hunter, Watters and related firms acted as unregistered dealers in foreign exchange trading
The Alberta Securities Commission (ASC) found Glenn Donald Hunter, Kyle William Watters, and their companies, HW & Associates Inc. and HW TradeFX LLC, violated Alberta securities laws by acting as unregistered dealers in foreign exchange trading. Between February 2021 and February 2023, they raised approximately CAD 20 million from 200 investors. The case will proceed to determine potential sanctions and cost-recovery orders.