This month’s edition includes one BC Provincial Court decision resulting from a British Columbia Securities Commission (BCSC) criminal investigation, a BCSC settlement agreement, a BCSC order, and one enforcement action from the Investment Industry Regulatory Organization of Canada (IIROC).
BCSC Criminal Enforcement
Keller was sentenced to one year of probation, including 90 days of house arrest, after she was convicted of violating a BCSC order.
Keller pleaded guilty to two counts of trading in a security and/or acting in a consultative capacity in connection with activities in the securities market, despite being permanently banned by the BCSC. Read the news release for full details.
BCSC Settlement Agreement
The BCSC has reached a settlement agreement with Qiao, a former dealing representative and Surrey resident. Qiao admitted that he provided false information about his work history in two registration applications.
As part of the settlement, Qiao is permanently banned from becoming a registrant under the Act, and has agreed to pay $20,000 to the BCSC. Read the news release for more information.
The BCSC ordered two Richmond residents and two companies to pay a total of $6.3 million for committing investment fraud through a Ponzi Scheme.
In addition to various financial sanctions ordered against the two men and the companies, Bezzasso is permanently banned and Liao is prohibited for 15 years from various securities activities. Bezzaz and Nexus are permanently banned from trading in or purchasing securities or exchange contracts and engaging in investor relations activities.
Read the news release for more details.
IIROC Settlement Agreement
In the settlement agreement, Blythe admitted she failed to report client complaints to her firm’s compliance department and misled Enforcement Staff about them during an investigative interview with IIROC staff.
Blythe agreed to pay a $10,000 fine and $500 in costs. She is suspended for nine months from registration with IIROC, and upon any registration, must undergo six months of close supervision. She must also successfully rewrite the Conduct and Practices Handbook course.
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.