21:09:56 EDT Mon 17 Jun 2019
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save
BC Securities Commission
Symbol C : *BCSC
Recent Sedar Documents

BCSC's order over abusive shares gets a bit smaller

2019-01-16 20:26 ET - Street Wire

Also Street Wire (C-BLK) Blok Technologies Inc
Also Street Wire (C-CRYP) Cryptobloc Technologies Corp (2)
Also Street Wire (C-GTBE) Green 2 Blue Energy Corp
Also Street Wire (C-NP) New Point Exploration Corp

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 extended a temporary order that it imposed on a group of public companies and many individuals in December for abusive share issuances. The regulator has determined that there is enough evidence of "significant public interest concerns," at least for now. Among other things, the regulator cites very unusual financial transactions with consultants.

The extensions are part of a complex investigation in which the BCSC cited a large group of people and companies for illegal share distributions on the Canadian Securities Exchange. The BCSC said that the group misused exemptions normally reserved to issue shares to consultants. The matter is still in the preliminary stages, and the BCSC has not begun full proceedings against anybody. The regulator has simply imposed temporary orders designed to stop the conduct at issue.

Initially, the BCSC cited 11 public companies, all listed on the CSE. After considering submissions from the many parties to the case, the BCSC has now whittled the number of listings subject to the order down to four: Cryptobloc Technologies Corp., New Point Exploration Corp., Green 2 Blue Energy Corp. and Blok Technologies Inc. The companies are not allowed to issue shares to consultants, at least not without filing a prospectus first. (Such issuances are normally exempt from the prospectus requirement.)

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

© 2019 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.


BCSC - you suck

Posted by rick bellows at 2019-01-17 04:56

BCSC - you suck

Posted by rick bellows at 2019-01-17 04:56