04:42:53 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Getty Copper Inc
Symbol GTC
Shares Issued 108,427,205
Close 2017-11-29 C$ 0.025
Market Cap C$ 2,710,680
Recent Sedar Documents

Canaccord ex Bay denies mishandling Lepinski accounts

2017-11-30 10:48 ET - Street Wire

See Street Wire (C-CF) Canaccord Genuity Group Inc

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Mike Caswell

Former Canaccord Genuity Corp. employee Warwick Bay denies that he did anything wrong in handling the accounts of Coquitlam businessman John Lepinski, who is suing over a tax problem. Mr. Bay says that he was in no way responsible for providing Mr. Lepinski with tax planning services or advice. Mr. Lepinski had an accountant tasked with that job, Mr. Bay contends.

Mr. Bay is responding to a lawsuit that Mr. Lepinski filed against him, Canaccord and others in the Supreme Court of British Columbia on Sept. 6, 2016. The suit complained that Canaccord bought shares of Getty Copper Inc. using Mr. Lepinski's RRSP and TFSA accounts when those shares were not eligible for a tax-sheltered account. The purchases resulted in Mr. Lepinski having to spend $68,922 on a tax lawyer, among other things, the suit stated.

For his part, Mr. Bay denies that he did anything wrong. In a brief response filed on Nov. 20, 2017, he says that he was strictly an investment adviser. He was not responsible for any advice with respect to tax law, regulations, planning or strategy. He was also not responsible for determining whether an investment qualified as being eligible for an RRSP or TFSA, the response states. As Mr. Bay sees things, responsibility for Mr. Lepinski's tax planning fell to his accountant, Don Willoughby. According to the response, Mr. Lepinski had hired Mr. Willoughby and his firm, Cinnamon Jang Willoughby, for those specific tasks.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS

© 2024 Canjex Publishing Ltd. All rights reserved.


Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.


So hoist up the John B's sail

See how the main sail sets

Call for the Captain ashore

Let me go home, let me go home

I want to go home, yeah yeah

Well I feel so broke up

I want to go home

Posted by halcrow at 2017-11-30 11:38

BCSC Commissioner Appointments are Illegal Suzanne Wiltshire's appointment started in July 2006 as per BCSC website bio and OIC # 498-2006. Don Rowlatt’s appointment started in April 2008 as per BCSC website and OIC #228-2008. Brenda Leong’s appointment started in October 2009 as per the BCSC website.

Suzanne Wiltshire, Don Rowlatt and Brenda Leong’s appointments are in contradiction of Sec 4.1 of the Securities Act which states that the Administrative Tribunals Act applies to the BCSC. Part 2, Sec 3 of the Administrative Tribunals Act states that: Member's initial term and reappointment 3 (1) A member, other than the chair, may be appointed by the appointing authority, after a merit-based process and consultation with the chair, to hold office for an initial term of 2 to 4 years. (2) A member may be reappointed by the appointing authority, after a merit-based process, as a member of the tribunal for additional terms of up to 5 years.

The initial term for Wiltshire, Rowlatt and Leong was 3 years and an additional 5 years for a maximum of 8 years. Therefore Wiltshire’s appointment is illegal as of July 2014, Rowlatt’s appointment is illegal as of April 2016 and Leong’s appointment is illegal as of November 2017.

How are Commissioners Wiltshire, Rowlatt and Leong supposed to remain independent, unbiased, and transparent when they are clearly obtaining funds based on an illegal appointment therefore every decision will be self serving.

Posted by Bushwacker at 2017-12-03 13:56

Should the Commissioners at BCSC not be fired? The clean up of the financial industry has to start from the Regulators. If the regulators are tainted then how will the industry function? If the BCSC policies were effective over the last 15 years then why is that BC now only has 2 BC based brokerage houses. 15 years ago there were 17.

Posted by Bushwacker at 2017-12-03 14:02


Comments for this item are closed