VANCOUVER, Nov. 1, 2017 /CNW/ - The British Columbia Securities Commission (BCSC) today gave notice that it received $5,714.51 pursuant to an order a BCSC panel issued under the Securities Act on January 6, 2014.
On October 21, 2013, following a hearing, a Commission panel found that Jefferson Franklin Mesidor committed fraud when he spent money given to him by two investors for purposes other than foreign exchange trading.
The panel banned Mesidor permanently from trading in securities, from purchasing securities or exchange contracts, and from becoming or acting as a director or officer of any issuer or registrant. The panel also permanently prohibited him from engaging in investor relations activities, and from acting in a management or consultative capacity in connection with the securities market.
The panel ordered Mesidor to pay to the Commission the $16,000 he obtained as a result of his misconduct, as well as an administrative penalty of $75,000.
Under the Securities Act, the BCSC must make money it receives from an order under section 161(1)(g) available to eligible applicants who lost money as a direct result of respondent misconduct.
Investors can make a claim to the BCSC using the required form, no later than November 1, 2020.
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
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