The June Enforcement Roundup highlights seven activities from the BC Securities Commission (BCSC) and the Canadian Investment Regulatory Organization (CIRO). There are also 12 new additions to the Investment Caution List.
BCSC Enforcement
BCSC Settlement Agreements
Christine Mah
Mah, former director of RoccaVerde Wellness Corporation – a BC-based cannabis company that illegally distributed securities – has been banned from various activities and positions for six years and paid $5,000 to the BCSC.
Between 2018-2019, RoccaVerde raised $133,500 from investors without filing a prospectus or qualifying for an exemption – resulting in total losses for all investors. Mah admitted that she did not take any steps to ensure that the company complied with the prospectus requirements in the Securities Act.
Read the news release for full details.
BCSC Orders
David Charles Greenway
Greenway, a BC resident, has been fined $22,500 for failing to disclose his past securities misconduct in corporate documents. He acted as a director – and in some cases CEO or president – of five reporting issuers including Majuba Hill Copper Corp. (aka Bam Bam resources Corp.), Recharge Resources Ltd. And Ultra Brands Ltd. (aka Feel Foods Ltd.).
In 2012, the BCSC found that Greenway engaged in illegal insider trading and ordered him to pay a $19,177 administrative penalty. He was also restricted from participating in the investment market for five months.
Read the news release for full details.
BCSC Findings
Douwe van Hees
Douwe van Hees has been charged in BC with two counts of prohibited insider trading after an investigation by the BCSC. He was charged for using inside information possessed by virtue of van Hees being a shareholder and/or having a business or professional relationship with an issuer
As a result of a bail hearing, van Hees was granted release on certain conditions, including that he pays a $150,000 deposit into court.
Read the news release for more details.
BCSC Sanctions
Marcel Anil Rada
Rada, a BC resident, has been charged with two counts of breaching an order from the BCSC. It is alleged that between 2017-2025 Rada acted as a director/officer of an issuer despite being permanently banned by the BCSC from doing so based on a 2011 decision by the Investment Industry Regulatory Organization of Canada (IIROC). IIROC is now known as CIRO.
Rada is scheduled to make his first appearance July 16 in North Vancouver Provincial Court for the charges.
Read the news release for full details.
CIRO Enforcement
Canadian Investment Regulatory Organization (CIRO) Settlement Agreements
Christopher Leslie Meehan
Meehan, who conducted business in Abbotsford with Assante Financial Management Ltd., admitted to engaging in securities-related business outside of his purview as a Mutual Fund dealer. Between 2019 – 2022, he entered into agreements with eight clients to purchase, sell, or transfer crypto assets.
Meehan is only registered to advise or trade in mutual funds offered by Assante. Meehan agreed to:
- A suspension from conducting securities-related business for four months
- A fine of $45,000
- Costs of $5,000
Read the news release for full details.
Jonathan Thomas Jones
Jones admitted to trading in a security by means other than the entry of an order on a marketplace. In May 2024, Jones sold shares of LFNT Resources, a mineral exploration company where his father served as a director, off-market despite being told not to by his firm.
The trade, which involved 600,000 shares was later reversed and executed on the marketplace. Jones agreed to sanctions including:
- A $21,000 fine
- Costs of $2,000
Read the news release for full details.
David Alan Robertson
Robertson admitted to borrowing $15,000 from a 77-year-old client – which violated conflict of interest rules. The loan, undocumented, and used for personal expenses, was not disclosed to his firm. Robertson then falsely denied any such dealings in annual compliance forms.
Robertson agreed to:
- Prohibition of conducting securities-related business for a year
- A fine of $10,000
- Costs of $2,500
Read the news release for full details.
BCSC Early Intervention
Our Investment Caution List notifies British Columbians about unqualified investments and unregistered activity originating outside the province but accepts BC residents as clients.
Below are the June additions to the Investment Caution List:
Pulse-Trade
First Nexus
CoinW Oceans (no relations to CoinW, which operates a crypto exchange)
Bluesky Trading
Revival X
Orangex
Lighting Shared Scooter Co., Ltd.
Assetholdingsltd
Cstone Canada (no relation to the registered firms, Capstone Asset Management Inc, and Capstone Investment Advisors, LLC)
DTX Exchange
Volia Invest AG
Moonbitx
Report a Concern
If you have concerns about a person or company offering an investment opportunity, please contact the BCSC Contact Centre at 604-899-6854 or 1-800-373-6393 or by e-mail at [email protected]. You can also file a complaint using BCSC’s online complaint form.
If you have information relating to fraud or serious market misconduct, you can securely submit tips through our Whistleblower program. Qualified tips may be eligible for cash rewards up to $500,000.
InvestRight.org is the BC Securities Commission’s investor education website. Subscribe to receive email updates from BCSC InvestRight.
