In this edition of the Enforcement Roundup, we highlight one panel decision, a settlement agreement, and two notices of hearing from the British Columbia Securities Commission (BCSC).
For details about a case, click on the name of the person above the summary.
BCSC Panel Decision
A BCSC panel found that Havenplex Holdings Ltd. engaged in an illegal distribution and ordered the company to pay a disgorgement of $105,000 to the commission.
In 2013, Havenplex received $55,000 from the sale of its promissory notes to two investors. In 2014, one of the investors invested an additional $50,000 through the company’s president. The panel found that Havenplex relied on a private issuer exemption, but neither investor was accredited nor did they otherwise qualify for the exemption.
On March 3, 2016 the executive director entered into a settlement agreement with Dunn.
BCSC Return of Funds Claim
The BCSC paid a B.C. investor $20,000 that she lost as a result of misconduct by Keith Henry Alexander.
In a settlement agreement with the BCSC, Alexander admitted that he breached securities laws when he distributed a security to an investor without a prospectus and without being registered to trade. Alexander agreed to market prohibitions and paid the BCSC $20,000 he had obtained as a result of his contraventions.
BCSC Notice of Hearing
The BCSC’s Executive Director issued a notice of hearing alleging that Roy Ping Bai, also known as Ping Bai and RBP Consulting, perpetrated a fraud on investors. You will find more information about this case on the BCSC website hearing file.
The BCSC’s Executive Director issued a notice of hearing alleging that Prabhjot Singh Bakshi, a BC resident, and SBC Financial Group Inc. traded securities without being registered and illegally distributed securities. You will find more information regarding this case on the BCSC website hearing file.
Report a Concern
If you have any concerns about a person or company offering an investment opportunity, please contact BCSC Inquiries at 604-899-6854 or 1-800-373-6393 or through e-mail at [email protected] You can also file a complaint or submit a tip anonymously using the BCSC’s online complaint form.
InvestRight.org is the British Columbia Securities Commission’s investor education website.