BC Securities Commission Bans Individual for Securities Fraud
- Reports
- 2
- Developments
- 1
- Repetition
- 50%
New informationRepeats or wire copies
What happened
A B.C. Securities Commission panel banned a Canadian citizen from the B.C. investment market for 20 years after he was convicted in the U.S. for securities offenses. The individual pleaded guilty in 2022 to willful failure to disclose stock sales and aiding and abetting the sale of unregistered securities. Two of the charges related to his involvement with Arch Therapeutics Inc., a Massachusetts-based company.
From voiceonline.com
Why it matters
The regulatory action involves a significant forfeiture of nearly US$1.5 million and a lengthy ban from the B.C. investment market. The charges stem from the sale of 2.75 million Arch Therapeutics shares without a valid exemption under relevant securities laws.
From voiceonline.com
Who's involved
- University of British ColumbiaThe individual obtained his medical degree from this university.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- University of British ColumbiaSpeculative
The B.C. investment market could face increased compliance costs related to securities regulation.
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The entities involved
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University of British Columbia
public research university in British Columbia, Canada