VANCOUVER, Nov. 20, 2014 /CNW/ - A British Columbia Securities Commission panel has found that Roberta Merlin McIntosh (a.k.a. Bert McIntosh, Roberta Sims, Roberta Butcher, Roberta Mayer) breached securities laws when she advised an investor to purchase exempt market securities without being registered.
The panel found that McIntosh, as B.C. resident and former registrant who resigned in 2003, illegally advised an investor to purchase certain exempt market securities in April 2011. McIntosh was not registered when she did this. The investor followed McIntosh's advice.
In its decision, the panel stated that, "McIntosh received compensation relating to her investment advice in the form of the $11,730 in referral fees paid to her for the client's purchase of the Walton securities. She also carried out activities similar to a registrant by recommending securities for purchase to the client. Considering these facts, we find McIntosh was engaged in the business of advising."
In its notice of hearing, BCSC staff had also alleged that McIntosh made misrepresentations, acted contrary to the public interest, and recommended unsuitable securities. The panel dismissed these allegations.
The panel directed the parties to make submissions on sanctions according to the schedule set out in the findings.
You may view the findings decision on our website www.bcsc.bc.ca by typing Roberta Merlin McIntosh, Bert McIntosh, Roberta Sims, Roberta Butcher, Roberta Mayer, or 2014 BCSECCOM 405 in the search box. 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).
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
SOURCE: British Columbia Securities Commission
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