VANCOUVER, May 9, 2017 /CNW/ - A British Columbia Securities Commission (BCSC) panel has fined and issued certain temporary market bans against Christine Maria Cerisse for making false or misleading statements to BCSC investigators.
In January 2017, the panel found that Cerisse made false or misleading statements in her answers to three questions during an interview with BCSC staff under oath in October 2013. In the same decision, the panel dismissed allegations of misrepresentation, market manipulation, and illegal distribution against Cerisse and two other B.C. residents, Laurence (a.k.a. Lawrence) Frederick Austin and Thomas John Sadler.
When describing Cerisse's misconduct, the panel noted "She was attempting to conceal the identity of the ownership or control over several entities that had participated in, or were connected to, a public market transaction that the Commission was investigating."
The panel also stated "The repeated nature of [her] lies and the consistent theme to those lies leads us to conclude that her misconduct was intentional."
For her misconduct, Cerisse has been ordered to pay an administrative penalty of $20,000. She is prohibited from becoming or acting as a director or officer of any issuer (with limited exceptions), becoming or acting as a registrant, and acting in a management or consultative capacity in connection with activities in the securities market. Cerisse's bans are to remain in effect until the later of the date that she pays her administrative penalty and six months from the date of the panel's decision.
You may view the sanctions decision on our website, www.bcsc.bc.ca, by typing Christine Maria Cerisse or 2017 BCSECCOM 142 in the search box. Information about disciplinary proceedings can be found in the Enforcement section of the BCSC website.
Please visit the Canadian Securities Administrators' (CSA) Disciplined List for information relating to persons and companies disciplined by provincial securities regulators, the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association of Canada (MFDA).
About the British Columbia Securities Commission (www.bcsc.bc.ca)
The British Columbia Securities Commission is the independent provincial government agency responsible for regulating capital markets in British Columbia through the administration of the Securities Act. Our mission is to protect and promote the public interest by fostering:
- A securities market that is fair and warrants public confidence
- A dynamic and competitive securities industry that provides investment opportunities and access to capital
Learn how to protect yourself and become a more informed investor at www.investright.org
SOURCE British Columbia Securities Commission
For further information: Media Contact: Alison Walker, 604-899-6713; Public inquiries: 604-899-6854 or 1-800-373-6393 (toll free), [email protected]