Tag archives: BCSC

Securities Commission Administrative Fines Are Forever

By Stephen Taylor on April 23, 2020 Posted in Other developments, Securities regulatory decisions

As we discussed in a previous post, administrative penalties levied by securities commissions may survive a discharge in bankruptcy. A recent decision of the Supreme Court of British Columbia (Court), Poonian (Re), 2020 BCSC 547 (Re Poonian), highlights that in addition, such administrative penalties may also prevent a discharge from bankruptcy altogether. In Re Poonian, … Continue reading

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

By Kaitlin Smiley on March 23, 2020 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

Ontario Securities Commission v York Rio Resources Inc.: Enforcing OSC Orders as Court Judgments outside of Ontario

By Peter Tae-Min Choi on July 25, 2019 Posted in Other developments, Securities regulatory decisions

On May 21, 2019, in Ontario Securities Commission v York Rio Resources Inc., 2019 BCSC 776, the British Columbia Supreme Court (BCSC) enforced Ontario Securities Commission (OSC) disgorgement orders as court judgments from another province. Background A joint investigation was conducted by the OSC and the British Columbia Securities Commission (BC Commission) into an $18.2 … Continue reading

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

By Kaitlin Smiley on December 3, 2018 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

The Scope of Securities Commission’s Public Interest Jurisdiction: What Constitutes Abuse of the Capital Markets?

By Linda Fuerst on October 22, 2018 Posted in Securities regulatory decisions

The Scope of Securities Commission’s Public Interest Jurisdiction: What Constitutes Abuse of the Capital Markets? In Re Hamilton, 2018 BCSEECOM 290, the British Columbia Securities Commission (BCSC) was called upon, yet again, to consider the scope of its public interest jurisdiction in an enforcement proceeding pursuant to s. 161 of the British Columbia Securities Act, RSBC 1996, c. … Continue reading