Tag archives: BC Securities Commission

Landmark Changes to the BC Securities Act are Set to Take Effect March 27

Photo of Kaitlin SmileyBy Kaitlin Smiley on Posted in Legislation, rules and policies, White collar crime
As previously reported, on October 21, 2019, the BC provincial government announced sweeping and significant changes to the BC Securities Act which are intended to give the BC Securities Commission (BCSC) the strongest powers in the country to impose tougher consequences for wrongdoers.  The provincial government recently issued an order in council confirming that these … Continue reading

White Collar Criminals Beware – BC strengthening Securities Commission investigation and enforcement powers

Photo of Kaitlin SmileyBy Kaitlin Smiley on Posted in Legislation, rules and policies, White collar crime
On October 21, 2019, the BC provincial government announced sweeping and significant changes to the BC Securities Act which are intended to give the BC Securities Commission (BCSC) the strongest powers in the country to impose tougher consequences for wrongdoers. Bill 33-2019, the Securities Amendment Act, 2019, sets out over 100 proposed amendments, many of … Continue reading

When Will Referral Arrangements Constitute Trading under the BC Securities Act?

Photo of Kaitlin SmileyBy Kaitlin Smiley on Posted in Securities regulatory decisions
In a recent decision of the BC Securities Commission (BCSC), the BCSC provides helpful guidance concerning when referral arrangements cross the line and become trading for which registration is required. Chien-Hua Liu (Liu) and two affiliated corporations referred BC and Hong Kong investors to two issuers, leading to the purchase of over $6.5 million in … Continue reading

BC Court of Appeal clarifies use of disgorgement remedy under the Securities Act

Photo of Kaitlin SmileyBy Kaitlin Smiley on Posted in Legislation, rules and policies, Securities regulatory decisions, White collar crime
In Poonian v. British Columbia Securities Commission[1] the BC Court of Appeal recently found that the BC Securities Commission (BCSC) may, in limited circumstances, make orders pursuant to s. 161(1)(g) of the BC Securities Act (the Act)  holding persons jointly and severally liable for a disgorgement order where there is evidence showing control and direction … Continue reading
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