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Enforcement Roundup: May 2021

Scales of justice represent enforcement actions taken in British Columbia by the BCSC in May 2021.
The Enforcement Roundup is a monthly summary of enforcement decisions in British Columbia taken by securities regulators.

The May 2021 edition of the Enforcement Roundup summarizes two enforcement actions from the British Columbia Securities Commission (BCSC).

BCSC Enforcement

Criminal Charges

Jeffrey Shaughnessy

Shaughnessy, a Vancouver resident, is accused of committing two counts of fraud over $5,000 and two counts of theft over $5,000 under the Criminal Code. The charges relate to crimes that allegedly took place in September and October 2017.

Shaughnessy, 48, was arrested on May 14 following a joint effort by the BCSC’s Criminal Investigations Branch and the Vancouver Police Department.

Read the news release for full details.

News Release

Settlement Agreements

Shijun “Clark” Zhu

Zhu, a Burnaby resident,  who committed unregistered trading and advising, must pay $40,000 as part of a settlement agreement with the BCSC.

In addition to the financial sanctions, Zhu is prohibited for ten years from various securities-related activities.

Read the news release for full details.

News Release

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.

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