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.
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.
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.
In February, the BC Securities Commission (BCSC) issued one temporary order and one Investor Alert about a possible recovery room scheme directed at Morgan Dragon Development Corp. investors. The Mutual Fund Dealers Association (MFDA) released one decision relating to a BC resident. The Investment Industry Regulatory Organization of Canada did not release any decisions or […]
Every month we release an Enforcement Roundup. We cover British Columbia Securities Commission (BCSC) 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 Roundup contains one BCSC enforcement decision and one notice of hearing, as well as two […]