News Release
B.C. man pays $10,000 for advising without registration
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Date:
2010-06-02 -
Number:
2010/35
Vancouver - A former registrant who admitted to acting as an unregistered adviser must pay $10,000 to the British Columbia Securities Commission and return about $64,000 in fees he charged to 11 investors.
In a BCSC settlement agreement, Basil Roy Botha, a former registrant, admitted that, between May 2006 and September 2007, he charged investors on a fee-for-profit basis and managed some of the investors’ online brokerage accounts without being registered. Botha, a B.C. resident, also admitted to receiving $64,165.82 in fees from the investors.
Under the agreement, Botha will reimburse the investors within 90 days, and provide proof that he returned the fees. In addition to the money he must pay to the BCSC, Botha is prohibited from becoming or acting as an adviser for three years.
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 agreement on our website www.bcsc.bc.ca by typing in the search box, Basil Roy Botha or 2010 BCSECCOM 313 . 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 
.