BCSC Executive Director's Bulletin: Securities Regulator Issues Notice of Hearing Alleging that Unregistered Bahamian Company Engaged in Misconduct
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/07/11 -- The executive director of the British Columbia Securities Commission has issued a notice of hearing alleging that a Bahamian company breached securities laws by engaging in trading and advising in securities within B.C. without being registered.
The notice alleges that Gibraltar Global Securities Inc., a company registered in the Bahamas that provides offshore securities brokerage, investment management and advisory services, carried out trades and provided securities advice on behalf of B.C. residents without being registered to do so.
Furthermore, the notice alleges that the company refused to provide information regarding its B.C. clients to the BCSC and the Securities Commission of the Bahamas (SCB).
The notice also states:
On August 5, 2011, the BCSC issued a Freeze Order under section 151 of the Act against Gibraltar's accounts at a Vancouver brokerage firm, freezing approximately $2.2 million.
The notice states that Gibraltar's refusal to provide the BCSC with the names, account information, and account statements for all B.C. residents who have beneficially held accounts with it makes Gibraltar unsuitable to engage in securities-related activities in, or connected with, B.C.
These allegations have not been proven. Counsel for the executive director will apply to set dates for a hearing into the allegations before a panel of commissioners on October 4, 2011 at 9:00am.
The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province. You may view the notice of hearing on our website by typing Gibraltar or 2011 BCSECCOM 421 in the search box. Information regarding disciplinary proceedings can be found in the of the BCSC website.
Please visit the Canadian Securities Administrators' 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).
If you have questions, contact Richard Gilhooley, media relations, 604-899-6713. For public inquiries, call 604 899 6854 or 1 800 373 6393 (toll free).
Learn how to protect yourself and become a more informed investor at .
Contacts:
British Columbia Securities Commission
Richard Gilhooley
Media Relations
604-899-6713 or (Canada) 1-800-373-6393
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Datum: 07.09.2011 - 17:00 Uhr
Sprache: Deutsch
News-ID 63283
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VANCOUVER, BRITISH COLUMBIA
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