News Release
B.C. man ordered out of capital markets
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Date:
2006-02-20 -
Number:
2006/07
Vancouver - The British Columbia Securities Commission has ordered a B.C. man out of the capital markets after he admitted to causing the misleading appearance of trading activity in a company’s stock and abusive operation of nominee accounts.
Michael Alan Wilson cannot buy or sell securities except in limited circumstances, cannot be a director or officer of any issuer, and cannot engage in any investor relations activities for at least five years. He must also pay the BCSC $5,000.
In a settlement reached with the BCSC, Wilson - a former registered salesperson - admitted to personally engaging in two pre-arranged trades of the securities of Golden Fortune Investments that resulted in a misleading appearance of trading activity in the company’s shares, contrary to securities laws. Wilson was also the registered representative of nominee accounts that were used to hide or disguise abusive trading of Golden Fortune’s shares.
The trading activity occurred during the period when Golden Fortune, a B.C.-headquartered company, was listed on the TSX Venture Exchange. The company was cease traded on Oct. 28, 2003 for failure to file annual audited financial statements and it was delisted from the TSX-V on April 20, 2004.
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, Michael Alan Wilson or 2006 BCSECCOM 101. If you have questions, contact Andrew Poon, Media Relations, 604-899-6880.