News Release
Quebec-based investment firm fined for failing to register in British Columbia
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Date:
2008-08-11 -
Number:
2008/50
Vancouver - An investment firm agreed to pay the British Columbia Securities Commission $13,575 after admitting to advising investors without proper registration.
IA Clarington Investments Inc., a firm that holds registration in Quebec, admitted in a settlement agreement with the BCSC that it had provided investment advice to three B.C. residents without registration under the Securities Act from December 2002 to
Dec. 5, 2007.
Under the settlement agreement, IA Clarington agreed to pay a $5,000 fine and $8,575 for registration fees that otherwise would have been payable to the BCSC if the company had been registered.
The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province. You may view the settlement on our website www.bcsc.bc.ca by typing in the search box, IA Clarington Investments Inc. or 2008 BCSECCOM 428. If you have questions, contact Ken Gracey, Media Relations, 604-899-6577.
Learn how to avoid investment fraud at the BCSC's investor education website: www.investright.org.