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

The B.C. Securities Commission has fined International Lithium Corp.'s chief executive officer, John Wisbey, for his failure to report 547 trades that he made in his company's shares. The BCSC says that Mr. Wisbey, who held between 10 and 20 per cent of International Lithium's stock, entered the trades over a period of four years. Mr. Wisbey has since filed the reports and has provided what the BCSC says is full co-operation.

The fine for Mr. Wisbey is contained in a settlement agreement that the BCSC released on Monday, Feb. 26. Mr. Wisbey has agreed to pay $80,000, in addition to $18,750 that he paid in late filing fees. The agreement does not include any other sanctions.

The case stems from trades that Mr. Wisbey made after becoming the CEO of International Lithium in 2018. As with all insiders, he was required to report his holdings on the System for Electronic Disclosure by Insiders, or SEDI as it is better known. As an owner of more than 10 per cent of International Lithium's shares, he was also required to file early warnings reports.

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