BCSC Panel Fines And Permanently Bans Two Directors Of B.C. Company For Selling Securities Without Being Registered
Smith is permanently banned, with limited exceptions, from trading in securities, purchasing securities or exchange contracts and from becoming or acting as a director or officer of any issuer or registrant. She is also permanently prohibited from becoming or acting as a registrant or promoter, from engaging in investor relations activities, and from acting in a management or consultative capacity in connection with the securities market.
The panel also ordered the respondents to pay to the commission the $5.7 million obtained as a result of their misconduct. Furthermore, Eshun must pay an administrative penalty of $750,000, while Smith must pay an administrative penalty of $500,000. JV Raleigh has been permanently cease traded.
The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province. You may view the decision on our website, www.bcsc.bc.ca, by JV Raleigh Superior Holdings Inc, Maisie Smith, Ingram Jeffrey Eshun or 2012 BCSECCOM 492 in the search box. Information regarding disciplinary proceedings can be found in the Enforcement section of the BCSC website.
Please visit the Canadian Securities Administrators' Disciplined Persons List for information relating to persons disciplined by provincial securities regulators, the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association (MFDA).Learn how to protect yourself and become a more informed investor at www.investright.org SOURCE British Columbia Securities Commission
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