BCSC Logo InvestRight
humburger icon
close icon
News & Insights

Enforcement Roundup: January 2020

This image represents enforcement actions taken by BC securities regulators like the BCSC and MFDA in November.
The Enforcement Roundup is a monthly summary of enforcement activities in British Columbia taken by securities regulators.

2020’s first edition of the Enforcement Roundup covers a BC Securities Commission (BCSC) order and a settlement agreement. It also covers a sanctions decision from the Mutual Fund Dealers Association of Canada (MFDA).

BCSC Enforcement

BCSC Order

Richard Gozdek

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

Chun Ying (also known as Jim) Pan, FS Financial Services (Alberta) Inc.

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 Enforcement

MFDA Sanctions Decision

Meng Xi Li

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 Contact Centre 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 BC Securities Commission’s investor education website. Subscribe to receive email updates from BCSC InvestRight.

Suggested Reading

More Resources

Crypto Quiz

Test Your Crypto Asset Knowledge.

This quiz is designed to introduce you to the basics of crypto assets. It is not intended to provide investment or financial advice, and should not be relied upon as a substitute for such advice.

Cryptocurrencies and blockchain are the same thing.