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BCSC ordered to use permanent bans sparingly

2018-04-20 20:35 ET - Street Wire

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by Mike Caswell

The B.C. Securities Commission must be gentler with its handling of some securities violators, the Court of Appeal for British Columbia has determined. In particular, the regulator should be extra careful when it hands out a permanent ban, the court has ruled. Such bans can interfere with a person's ability to earn a living, and should only be considered after an examination of lesser options.

The directive from the Court of Appeal is contained in a decision released on Friday, April 20. It stems from the case of Larry Keith Davis, an investor relations man who received a permanent ban from the BCSC in 2016. BCSC enforcement staff said that Mr. Davis offered to sell shares in an OTC Bulletin Board company to his neighbour. He then used her money for personal expenses, and never delivered the shares.

The matter went to a hearing before a BCSC panel, at which Mr. Davis argued that he was a victim of circumstances. The company that he worked for (Formcap Corp.) had promised him the shares after it completed a rollback. He said that he sold the shares to his neighbour on the basis that she would get the stock as soon as he did. Unfortunately for everybody, he never received the shares, he said.

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Self serving, government buffoons at work, all disguised in the public interest.

Posted by Bushwacker at 2018-04-23 09:02

BCSC is a sham? Copy and paste this url and judge it for yourself. BCSC scrubbed another BC appeals case that they had lost. http://bcsecuritiescommissionasham.blogspot.ca/2017/03/case-43449-bc-court-of-appeal-missing.html

Posted by Bushwacker at 2018-04-23 09:08

BCSC is a sham? Copy and paste this url and judge it for yourself. BCSC ruined the lives of BC residents and then canceled their fines. http://bcsecuritiescommissionasham.blogspot.ca/2016/03/be-fraud-aware-5-reasons-bc-securities.html

BRITISH COLUMBIA SECURITIES COMMISSION Securities Act, RSBC 1996, c. 418 Citation: Re SPYru Inc., 2018 BCSECCOM 24 Date: 20180115 SPYru Inc., Paradox Distributors (1992) Ltd., Echo Partners Ltd., U-GO Brands Nutritional Products Inc., Peter David Harris, Lorne Neil Cire, Christopher Andrew Burke, Millard Michael Kwasnek, and Joseph Yvan JeanClaude Thibert a.k.a. John Thibert Variation Order [1] On May 31, 2017, the BC Court of Appeal issued a judgment in Poonian v. British Columbia Securities Commission (2017 BCCA 207). In the judgment, the Court considered the interpretation of section 161(1)(g) of the Securities Act. [2] The Commission’s decision in Re SPYru Inc., 2015 BCSECCOM 452 includes orders under section 161(1)(g) of the Act. The facts in the decision raise issues that the Court of Appeal considered in the judgment. As the decision predates the judgment, the section 161(1)(g) orders in the decision were made without the benefit of the principles established by the judgment. [3] It is in the public interest that a section 161(1)(g) order that may be affected by the judgment be stayed until a party makes an application to the Commission under section 171 to lift the stay or to vary or revoke the order. At that time, the Commission will consider whether the order is consistent with the judgment. [4] Considering that it would not be prejudicial to the public interest to do so, the Commission, under section 171 of the Act, varies the decision by staying the order in: a. subsection 125(4) against Cire, b. subsection 125(9) against Harris, c. subsection 125(17) against Kwasnek, d. subsection 125(21) against Burke, and 2 e. subsection 125(30). January 15, 2018 For the Commission Brenda M. Leong Nigel P. Cave Chair Vice Chair

Posted by Bushwacker at 2018-04-23 09:14

BCSC is a sham? Copy and paste this url and judge it for yourself. BCSC intentionally with-held evidence in this case until they were ordered to disclose it the BC OIPC Order F15-08 https://www.oipc.bc.ca/orders/1760

This is just normal due course process at BCSC.

Posted by Bushwacker at 2018-04-23 09:19

BCSC is a sham? Copy and paste this url and judge it for yourself. BCSC was ordered by the BC Appeal Court not to do snake oil accounting in this case. http://www.courts.gov.bc.ca/jdb-txt/ca/17/02/2017BCCA0207cor1.htm

This is just normal due course process at BCSC.

Posted by Bushwacker at 2018-04-23 09:22

Our legal system has become a farce. No different than the one in Zimbabwe or any other third world country. These dinosaurs are slow to change. Welcome all the refugees as Canada is open to you, we need you here to work for peanuts and dont ask any questions as then our crooked legal system will have to bring you in line.

Posted by Bushwacker at 2018-04-23 09:42

BCSC commissioner Wiltshire. This is her 3rd decision that the bc appeal court has over turned. See BC Court of Appeal File # CA44114, CA042714 and CA043449. File CA043449 has been scrubbed by BCSC but is available at this URL http://bcsecuritiescommissionasham.blogspot.ca/2017/03/case-43449-bc-court-of-appeal-missing.html

Wiltshire's appointment is illegal as of July 2014 so she is committing fraud by collecting any wages or payments from BCSC. Was she ever qualified to sit as a commissioner?

Posted by slacker at 2018-04-30 13:11


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