News Release
BCSC Executive Director’s Bulletin: Securities regulator issues notice of hearing against West Vancouver Man
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Date:
2012-03-13 -
Number:
2012/16
Vancouver – The executive director of the British Columbia Securities Commission has issued a notice of hearing alleging that a West Vancouver man repeatedly allowed documents to be filed with the BCSC that were materially false or misleading.
The notice alleges that Farshad Shirvani repeatedly failed to disclose that three separate cease trade orders (CTOs) were issued against International Ranger Corp, a B.C.-based mineral exploration company, while he was a director.
Shirvani is a also director of Doubleview Capital Corp, and the president, promoter and a director of Casa Minerals Inc. and Next One Capital Corp, all of which are B.C.-based companies. In his capacity as a director, promoter or officer of these companies, Shirvani was required to disclose in certain regulatory filings that the CTOs were issued while he was a director of Ranger.
In the notice, BCSC staff contend that Shirvani failed to disclose this fact in 13 documents filed with the BCSC on behalf of Doubleview, Casa and Next One, thereby knowingly causing the companies to file false or misleading documents. Shirvani personally signed and certified each of the 13 documents in question.
These allegations have not been proven. Counsel for the executive director will apply to set dates for a hearing into the allegations before a panel of commissioners on March 20, 2012 at 9:00am.
The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province. You may view the notice of hearing on our website www.bcsc.bc.ca by typing Farshad Shirvani, International Ranger Corp, or 2012 BCSECCOM 79 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).
For media enquiries, contact Richard Gilhooley, media relations, 604-899-6713. For public enquiries, 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