News Release

Vancouver - A British Columbia Securities Commission (BCSC) panel has fined and permanently banned Lynne Rae Nickford (a.k.a. Lynne Rae Zlotnik) from B.C.'s capital markets for fraud.

In August 2017, the panel found that Nickford convinced 13 investors to loan money to or invest in her company Lynne Zlotnik Wealth Management (LZWM) in 2009 and 2010, and told the investors their funds would be used for LZWM's business operations and growth.

The panel found that Nickford spent over $318,000 of the investors' money on personal expenses unrelated to her business.

In its decision, the panel stated, "Nickford represents a significant risk to investors and to the integrity of our capital markets. Broad permanent market prohibitions against Nickford are necessary and appropriate to protect our capital markets and the investing public."

For her misconduct, Nickford has been ordered to resign any position she holds as a director or officer of an issuer or registrant. She has also been ordered to pay an administrative penalty of $300,000 and a disgorgement order of $318,141.

The panel also ordered that Nickford be permanently prohibited from trading in or purchasing any securities or exchange contracts, becoming or acting as a director or officer of any issuer or registrant, becoming or acting as a registrant or promoter, acting in a management or consultative capacity in connection with activities in the securities market, and engaging in investor relations activities. The panel also permanently cease traded securities of LZWM. 

You may view the sanctions decision on our website, www.bcsc.bc.ca, by typing Lynne Rae Nickford, Lynne Rae Zlotnik or 2018 BCSECCOM 57 in the search box. Information about disciplinary proceedings can be found in the Enforcement section of the BCSC website.

Please visit the Canadian Securities Administrators' (CSA) Disciplined List for information relating to persons and companies disciplined by provincial securities regulators, the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association of Canada (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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Media Contact:
Alison Walker
604-899-6713

Public inquiries:
604-899-6854 or 1-800-373-6393 (toll free)
inquiries@bcsc.bc.ca

Learn how to protect yourself and become a more informed investor at www.investright.org