News Release

BCSC panel finds that man breached settlement order

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Vancouver – A British Columbia Securities Commission (BCSC) panel has found that Brent Glen Jardine breached a settlement order prohibiting him from being a director or officer of any issuer by acting as a de facto director of Claridge Ventures Inc., a mining company quoted on the Over-the-Counter (OTC) market in the United States.

The panel’s decision states that on October 4, 2007, Jardine entered into a settlement agreement with the BCSC in which he admitted to breaching several sections of the Securities Act during his tenure as the director of a mining company. As part of the settlement, Jardine agreed to an order prohibiting him from being a director or officer of any issuer for two years. However, within seven months of signing the settlement agreement, Jardine breached the ban by acting as a de facto director of Claridge (now known as Indo Global Exchange(s) Pte Ltd.) through the use of nominee directors.

The panel found that Jardine was directing and administering the company from B.C., stating that, “Despite the Order, Jardine was a de facto director or officer of Claridge from its incorporation and throughout the Prohibition. During that time, Jardine occupied a similar position and performed similar functions to a director or officer.”

The panel ordered that Jardine pay a fine of $40,000 and resign any position he holds as a director or officer of any issuer. The panel also ordered that Jardine be prohibited from trading or purchasing securities, and from acting as a director or officer of any issuer for a period of seven years. He is also prohibited, for the same period, from becoming or acting as a promoter or registrant, from engaging in investor relations activities, and from acting in a management or consultative capacity in connection with the securities market.

The decision notes that the parties submitted joint settlement recommendations on sanctions, which the panel found to be in the public interest. The Executive Director has discontinued proceedings against Claridge.

You may view the findings decision on our website by typing Brent Glen Jardine, Indo Global Exchange(s) Pte Ltd., Claridge Ventures Inc., or 2016 BCSECCOM 82 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 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 (

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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