2020’s first edition of the Enforcement Roundup covers a British Columbia Securities Commission (BCSC) order and a settlement agreement. It also covers a sanctions decision from the Mutual Fund Dealers Association of Canada (MFDA).
White Rock resident Gozdek must pay $15,000 after pleading guilty to breaching a BCSC order by trading in securities.
Gozdek was sentenced on December 23, 2019. As part of the sentence, he has paid $10,000 in restitution to the victim. He was also fined $5,000 and sentenced to one year of probation.
Read the news release for more details.
BCSC Settlement Agreement
The BCSC has reached a settlement agreement with Pan, a former nominee director of FS Financial Services (Alberta) Inc. which illegally sold its shares.
Pan agreed to pay $40,000 to the BCSC. He is also prohibited for five years from various securities market activities.
View the news release for more information.
MFDA Sanctions Decision
An MFDA Hearing Panel found that Li contravened five MFDA rules while conducting business in the Vancouver, BC area.
Li is permanently prohibited from conducting securities related business in any capacity while employed or associated with any MFDA Member. The panel imposed three sanctions on Li, including a $100,000 fine and $7,500 in costs.
View 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 the BCSC’s online complaint form.
Every month we release an Enforcement Roundup blog that highlights all of the notable securities law decisions relating to BC residents in the previous month. We cover our completed regulatory cases and report on other self-regulatory organization’s decisions when pertinent. From time-to-time, we will also cover criminal cases related to our decisions or investigations. Our […]
In March, the BC Securities Commission (BCSC) issued three enforcement decisions and one settlement agreement. The Investment Industry Regulatory Organization of Canada (IIROC) released one settlement agreement relating to a BC resident. The Mutual Fund Dealers Association (MFDA) did not release any decisions or settlement agreements during March relating to BC residents. You can find […]