In this month’s edition of the Enforcement Roundup we cover one British Columbia Securities Commission (BCSC) enforcement order. We also address one reasons for decision from the Mutual Fund Dealers Association of Canada (MFDA).
BCSC Enforcement Order
The BCSC has ordered that $131,781 in recovered funds, plus interest, be paid to several investors for losses incurred from a fraudulent investment scheme.
In May 2012, a BCSC panel ordered Shantz and CPC to pay the BCSC $1.53 million, which represented the amount obtained as a result of illegal activity. Shantz was also ordered to pay an administrative penalty of $630,000 and was permanently banned from B.C.’s capital markets.
Read the news release for more information.
MFDA Reasons for Decision
In its reasons for decision, an MFDA Hearing Panel confirmed the sanctions imposed on Blythe. In particular, Blythe must pay a $35,000 fine and has paid costs of $5,000.
Blythe conducted business in the Vancouver, B.C. area.
Read the news release for more details.
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 BCSC’s online complaint form.
Every month we release an Enforcement Roundup blog that highlights all of the notable securities law decisions related to BC residents in the previous month. We cover our completed regulatory cases and report on other self-regulatory organizations’ decisions when pertinent. From time-to-time, we also cover criminal cases related to our decisions or investigations. This Enforcement […]
The British Columbia Securities Commission (BCSC) today released a report detailing its enforcement activities for 2014. The report provides a high-level overview of the BCSC’s efforts to deter misconduct, protect investors, and ensure that B.C.’s capital markets function fairly and efficiently. This is the first Enforcement Report published by the BCSC. The report outlines the […]