VANCOUVER, June 11, 2012 /CNW/ - The British Columbia Securities
Commission has settled with a man who admitted making regulatory
filings that did not disclose necessary information. The filings failed
to disclose that cease trade orders were issued against a public
company when he was one of its directors.
In the BCSC settlement agreement, Farshad Shirvani, a West Vancouver
resident, admitted that 13 documents filed with the BCSC by three B.C.
issuers were materially false. Shirvani admitted that he caused, or
acquiesced to, the filing and delivery of the documents.
The documents were regulatory filings for Doubleview Capital Corp., Casa
Minerals Inc., and Next One Capital Corp. Shirvani is a director of
Doubleview Capital Corp., and the president, promoter and a director of
the two other companies.
Each of the 13 documents failed to disclose the fact Shirvani had been a
director of International Ranger Corp., a B.C. reporting issuer, when
it was cease traded by the BCSC.
Shirvani has paid the commission $15,000 to settle the matter. He has
also been reprimanded and ordered to complete a course of study within
one year concerning the duties and responsibilities of directors and
officers. Shirvani will be prohibited from becoming or acting as a
director, officer, or promoter of, or engaging in investor relations
activities for, any issuer other than those named above, until he
successfully completes the course of study.
The B.C. Securities Commission is the independent provincial government
agency responsible for regulating trading in securities within the
province. You may view the settlement agreement on our website www.bcsc.bc.ca by typing in the search box, Farshad Shirvani or 2012 BCSECCOM 216.
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
For further information:
For media inquiries, contact Richard Gilhooley, media relations, 604-899-6713.For public inquiries, call 604 899 6854 or 1 800 373 6393 (toll free).