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by Mike Caswell

The B.C. Securities Commission has imposed a $20,000 (Canadian) administrative fine and a six-month ban on Christine Cerisse, the only person found liable for helping the 2009 manipulation of Solanex Management Inc. Her penalty stems from lying to investigators. So far she is the only person sanctioned in connection with what the BCSC said was a $790,000 pump-and-dump. (All figures are in U.S. dollars.)

The penalty for Ms. Cerisse is contained in a decision the BCSC released on Tuesday, May 9. The regulator has fined her for lies that she told to investigators on three separate occasions in October, 2013. Investigators asked her, under oath, about the ownership of a group of corporate entities. The decision does not state exactly what she said, but it makes it clear that she was far from truthful. "The repeated nature of these lies and the consistent theme to those lies leads us to conclude that her misconduct was intentional," the decision states.

The BCSC has banned her from acting as an officer or director of any issuer (except in limited circumstances) and from acting in a management or consulting role in the markets. The ban lasts for six months or until she pays her fine. The decision was handed down by a three-member BCSC panel headed by the regulator's vice-chairman, Nigel Cave.

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