BCSC panel finds that lawyer engaged in illegal insider trading
Vancouver – A British Columbia Securities Commission panel has found that Weiqing Jane Jin, a Beijing lawyer working in Vancouver, engaged in illegal insider trading.
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. Jin knew that Comeco Corporation, a Saskatchewan company traded on the Toronto and New York stock exchanges, had made an offer to acquire Hathor. The offer, which the panel found was a material fact, had not been publicly disclosed when she purchased the Hathor shares.
In the notice of hearing, BCSC staff had also alleged that Jin engaged in illegal insider trading and acted against the public interest in relation to an earlier purchase of Hathor securities. The panel dismissed these allegations.
The panel directed the parties to make submissions on sanctions according to the schedule set out in the findings.
You may view the findings decision on our website www.bcsc.bc.ca by typing Weiqing Jane Jin or 2014 BCSECCOM 194 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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