BCSC Panel Sanctions Kelowna Man for Illegally Distributing Securities
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 01/12/16 -- A British Columbia Securities Commission panel has sanctioned Rodney John Snider for illegally distributing securities.
In October 2015, the panel found that Snider, a resident of Kelowna during the relevant period, assisted in the sale of promissory notes in Flag Resources (1985) Limited to four B.C. residents for proceeds of $21,000. Flag is an Alberta-incorporated mining company and reporting issuer in B.C. In 2005, the TSX Venture Exchange de-listed the company for failing to maintain exchange-listing requirements, and in 2006 the BCSC issued a cease trade order against Flag for failing to file financial records.
The panel determined that Snider referred the investors to Murdo Campbell McLeod (now deceased), a director of Flag. The sale of securities to these investors were illegal distributions.
In its sanctions decision, the panel wrote that Snider''s conduct did not comply with Securities Act requirements:
The panel ordered that Snider pay a fine of $5,000. The panel also ordered that Snider be prohibited from trading or purchasing securities, and from acting as a director or officer of any issuer for a period of three years. He is also prohibited, for the same period, from becoming or acting as a promoter or registrant, from engaging in investor relations activities, and from acting in a management or consultative capacity in connection with the securities market.
You may view the sanctions decision on our website by Rodney John Snider or 2016 BCSECCOM 13 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:
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Datum: 12.01.2016 - 16:00 Uhr
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