B.C. Man Settles With BCSC for Illegally Trading in Securities
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/28/15 -- In a settlement agreement with the British Columbia Securities Commission (BCSC), Daniel Quo Ming Sam has admitted that he engaged in an illegal distribution of securities.
The agreement states that Sam, a B.C. resident, introduced investors to Thomas Arthur Williams and the following companies (collectively, the Global Group of Companies):
Between February 2007 and April 2010, Williams and the Global Group of Companies raised approximately $11.7 million from approximately 123 investors. Sam introduced seven investors to the Global Group of Companies. These investors, for whom no prospectus exemptions applied, collectively invested $348,853. Sam, who has never been registered in any capacity in B.C., received $19,469 in commissions.
Sam acknowledged that by introducing investors to the Global Group of Companies, he breached securities laws related to registration and prospectus requirements.
Sam has agreed to pay to the BCSC $29,469 in respect of settlement of this matter. He is also prohibited from trading in securities (with limited exceptions), and from becoming or acting as a promoter or registrant for a period of five years. Sam is also banned, for the same period, from acting in a management or consultative capacity in connection with the securities market, and from engaging in investor relations activities.
The agreement notes that Sam invested $38,100 of his own money in the Global Group of Companies, and has no reasonable prospect of its recovery.
You may view the settlement agreement on our website by typing Daniel Quo Ming Sam or 2015 BCSECCOM 121 in the search box. Information regarding disciplinary proceedings can be found in the of the BCSC website.
Please visit the Canadian Securities Administrators'' 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 ()
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:
Learn how to protect yourself and become a more informed investor at .
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Datum: 28.04.2015 - 12:45 Uhr
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News-ID 1354756
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