Enforcement Roundup – March 2018
In this March edition of the Enforcement Roundup, we cover a BC Securities Commission (BCSC) investor alert, one notice of hearing and an MFDA settlement agreement.
BCSC Investor Alert
The BCSC has become aware that the Federal Financial Supervisory Authority of Germany (BaFin) issued a warning to investors about Goldex Resources Corporation, a Vancouver-based TSX-V company.
The BaFin alert states that: “buy recommendations are currently being issued for shares in Goldex Resources Corp. (ISIN: CA3813663018) via e-mail market letters. BaFin has evidence indicating that these buy recommendations contain false or misleading information and/or that existing conflicts of interest are wrongfully concealed.”
The BCSC encourages investors to carefully consider all public information about a company before making an investment decision. The BCSC asks investors to contact the BCSC inquiries line at 604-899-6854 or 1-800-373-6393, if they received buy recommendations on Goldex through email newsletters.
BCSC Notice of Hearing
The Executive Director of the BCSC issued a notice of hearing alleging that Furman committed fraud.
You can find out more in the hearing file.
MFDA Settlement Agreement
In the settlement agreement, Shearing admitted, contrary to an MFDA rule, that he obtained, possessed, and in some instances used to process transactions, 16 pre-signed account forms in respect of four clients between September 2015 and February 2017.
For his misconduct, Shearing must pay a $2,500 fine and costs of $2,500 according to an MFDA payment schedule outlined in the settlement agreement.
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 anonymous using BCSC’s online complaint form.