Firm fined for advising investors without registration in British Columbia

    VANCOUVER, Feb. 27 /CNW/ - The British Columbia Securities Commission has
settled with an investment firm that has agreed to pay $16,250 after admitting
to advising investors without proper registration.
    MacDougall Investment Counsel Inc., a firm that holds registration in
Quebec and Ontario, admitted in a settlement agreement with the BCSC that it
provided investment advice to B.C. investors without registration under the
Securities Act.
    The firm admitted to providing investment advice to as many as nine
clients between March 2004 and Sept. 23, 2007. During this period, the company
did not hold registration in B.C. MacDougall registered as a portfolio manager
and investment counsel in B.C. on Sept. 24, 2007.
    Under the settlement agreement, MacDougall agreed to pay $16,250, which
includes $8,750 representing registration fees that would have otherwise been
payable to the commission.

    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 on our website by typing in the
search box, MacDougall Investment Counsel Inc. or 2008 BCSECCOM 113. If you
have questions, contact Ken Gracey, Media Relations, 604-899-6577.

    Learn how to avoid investment fraud at the BCSC's investor education

For further information:

For further information: Ken Gracey, (604) 899-6577 or (B.C. & Alberta)

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