VANCOUVER, Nov. 28, 2017 /CNW/ - In a settlement agreement with the British Columbia Securities Commission (BCSC), Justin Trent Smith, a B.C. resident, has admitted he traded securities without registration and without an available exemption from registration.
The agreement states that Smith traded in exempt market securities and that he filed information reports with the BCSC indicating he was relying on the registration exemption in B.C. Instrument 32-513, commonly known as the NorthWest Exemption.
The NorthWest Exemption does not apply to trades by persons who were formerly registered under provincial securities legislation. Smith was registered as a mutual fund salesperson in Alberta under the Alberta Securities Act from August 2008 to August 2009. His previous registration means that he was not eligible to rely on the NorthWest Exemption for his trades.
For his misconduct, Smith has agreed to pay $25,000 to the Commission.
You may view the settlement agreement on our website, www.bcsc.bc.ca, by typing Justin Trent Smith or 2017 BCSECCOM 352 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
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