April 5, 2012
BCSC panel sanctions woman for making false or misleading statements
Vancouver – A British Columbia Securities Commission panel has sanctioned a woman for making false or misleading statements to commission staff while under oath.
In November 2011, a commission panel found that Jo Ann Nuttall made false or misleading statements to BCSC investigators during a compelled interview.
During the interview, Nuttall said she was unsure or could not recall when she last traded securities or how she did her trading. The panel found that she was a “sophisticated investor and a frequent trader” and had traded securities the morning of the interview under a standing order no more than two weeks old.
The panel also found that Nuttall’s failure to tell the truth was “not inadvertent”, and that “she chose to conceal information under the guise of not remembering.”
The panel ordered that Nuttall cease trading in, and be prohibited from purchasing, securities until the later of September 29, 2012 and the date Nuttall pays an administrative penalty of $15,000.
In addition, the panel ordered that Nuttall be reprimanded under the Securities Act.
The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province. You may view the decision on our website, www.bcsc.bc.ca, by typing Nuttall or 2012 BCSECCOM 97 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).
If you have questions, contact Richard Gilhooley, media relations, 604-899-6713. For public inquiries, call 604 899 6854 or 1 800 373 6393 (toll free).
Learn how to protect yourself and become a more informed investor at www.investright.org