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.
In this edition of the Enforcement Roundup, we summarize cases from this past summer. In July and August, there were six enforcement decisions from BC Securities Commission (BCSC) panels and one settlement agreement. We also feature a BC Supreme Court decision related to a BCSC investigation. The Mutual Fund Dealers Association of Canada (MFDA) issued […]