March 13, 2014 12:00 am | Author: investright

In February, the BC Securities Commission (BCSC) issued one
temporary order and one Investor
Alert
about a possible recovery room scheme directed at Morgan Dragon
Development Corp. investors.  The Mutual
Fund Dealers Association (MFDA) released one decision relating to a BC
resident. The Investment Industry Regulatory Organization of Canada did not
release any decisions or settlements during February relating to BC
residents.

You can find a summary of some of the recent matters below.

CSA Enforcement Report

Last month, we published the CSA Enforcement Report with our colleagues from across Canada. If you are
interested in BCSC enforcement cases over the past year, you can go to the
concluded cases database on the CSA Enforcement report website, choose 2013,
and search for BC as the province. If you do this, you will find that the BCSC
concluded 12 enforcement cases last year. In the same database, you can choose
to see particular types of cases from across the country. You can link to the
actual decision or settlement for each individual case directly from the
concluded cases database.

BCSC Temporary Order and Notice
of Hearing – SPYru Inc., Paradox Distributors (1992) Ltd., Echo Partners Ltd.,
U-GO Brands Nutritional Products Inc., Peter David Harris, Lorne Neil Cire,
Christopher Andrew Burke, Millard Michael Kwasnek, and Joseph Yvan JeanClaude
Thibert (a.k.a. John Thibert)

The BCSC’s executive director issued a temporary order and notice of
hearing against the respondents.  The
temporary order prohibits the respondents from participating in BC’s capital
markets. On March 13, 2014, the Commission will decide whether to extend the
temporary order until a hearing is held and a decision rendered.  The allegations in the notice of hearing have
not been proven.

MFDA Liability
Decision – Robert Rush

A MFDA Hearing Panel permanently banned Rush from registration and fined
him $90,000 after determining, amongst other things, that he engaged in
securities related business outside the member firm.

Notice of Hearing:
Enna M. Keller and Richard Lian (a.k.a. Richard Terry Ruuska)

 



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