News Release

BCSC panel sanctions North Vancouver man for failing to file insider reports

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Vancouver - A British Columbia Securities Commission (BCSC) panel has issued financial sanctions against Mark Aaron McLeary for failing to file insider reports and, because of his history of securities regulatory misconduct, has issued permanent market prohibitions.

In December 2015, the panel found that McLeary, a resident of North Vancouver, failed to file insider reports for a substantial number of trades he made in two companies for which he was CEO and director. The two companies - Silver Sun Resource Corp. and Newton Gold Corp. - were B.C. reporting issuers whose shares traded on the TSX Venture Exchange during the period of McLeary's trades.

The panel found that McLeary conducted certain of his trades through a Panamanian brokerage account - opened with a corporation he had created with nominees named to the account - and through Canadian brokerage accounts. McLeary admitted that the trading of Silver Sun and Newton Gold shares in the Panamanian account was not reported in insider reports in a timely manner. He also admitted that some of the trading in the two companies conducted in his Canadian accounts was also not timely reported in insider reports. 

The panel noted in its sanctions decision that McLeary was already subject to lifetime market prohibitions for previous misconduct.  In an earlier proceeding (2015 BCSECCOM 281), he was found to have engaged in market manipulation, contrary to the Securities Act.

In its decision, the panel wrote that "the respondent, as a result of the misconduct found in this case along with his other securities related misconduct… represents a very serious risk to investors and our capital markets."

The panel ordered McLeary pay an administrative penalty of $25,000. He must also cease trading in, and is permanently prohibited from purchasing, any securities or exchange contracts (with limited exceptions).

The panel also permanently prohibited McLeary from becoming or acting as a registrant or promoter, from acting in a management or consultative capacity in connection with activities in the securities market, and from engaging in investor relations activities. He must also resign any position he holds as, and is permanently prohibited from becoming or acting as, a director or officer of any issuer or registrant (with limited exceptions).

You may view the sanctions decision on our website by typing Mark Aaron McLeary or 2016 BCSECCOM 191 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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Media Contact:

Alison Walker

Public inquiries:
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