November 3, 2014
Vancouver – A British Columbia Securities Commission panel has sanctioned Weiqing Jane Jin for illegal insider trading. Jin is a Chinese lawyer working in Vancouver.
In July 2014, the panel found that Jin was working as a consultant at a Vancouver law firm when she purchased 3,000 shares of Hathor Exploration Limited, a mineral exploration company listed on the Toronto Stock Exchange. The panel found that Jin knew that Comeco Corporation, a Saskatchewan company traded on the Toronto and New York stock exchanges, had made a written proposal setting out the basis of an offer to acquire Hathor. The proposal, which the panel found was a material fact, had not been publicly disclosed when she purchased the Hathor shares.
In its sanctions decision, the panel stated that Jin, “was a legal professional who failed to undertake the most basic due diligence and to exercise good judgement regarding the propriety of trading in Hathor shares.”
The panel ordered that Jin pay to the commission the $4,280 obtained as a result of her misconduct, as well as a $12,000 fine. The panel also ordered that Jin be prohibited from purchasing or trading securities of any issuer with whom she is in a special relationship for a period of one year. This prohibition will remain in place until the later of one year, or such time as the fines are paid.
You may view the sanctions decision on our website www.bcsc.bc.ca by typing Weiqing Jane Jin or 2014 BCSECCOM 424 in the search box. Information regarding disciplinary proceedings can be found in the Enforcement section of the BCSC website.
Please visit the Canadian Securities Administrators’ Disciplined Persons List for information relating to persons disciplined by provincial securities regulators, the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association (MFDA).
About the British Columbia Securities Commission (www.bcsc.bc.ca)
The British Columbia Securities Commission is the independent provincial government agency responsible for regulating capital markets in British Columbia through the administration of the Securities Act. Our mission is to protect and promote the public interest by fostering:
- A securities market that is fair and warrants public confidence
- A dynamic and competitive securities industry that provides investment opportunities and access to capital
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Richard Gilhooley, Media Relations
604-899-6854 or 1-800-373-6393 (toll free)
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