News Release

B.C. man agrees to sanctions for breaching cease trade order

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Vancouver - In a settlement agreement with the British Columbia Securities Commission (BCSC), Richard Dean Reoji Nawata has admitted he breached a cease trade order issued by the Executive Director.

Nawata, a B.C. resident, was the president, CEO and a director of record of Military International Limited (MIL). MIL is an Alberta company and a reporting issuer in B.C. whose shares at one time traded on the TSX Venture Exchange. On December 11, 2002, the Executive Director of the BCSC ordered that all trading in MIL's securities cease until MIL filed required records. This order remains in force.

The agreement states that between November 2010 and December 2011, MIL raised $170,000 from six investors, and entered into loan agreements and issued promissory notes to those investors. Nawata signed the loan agreements and promissory notes on behalf of MIL.

The settlement agreement states that by entering into these investments, MIL contravened the cease trade order. It also states that by executing the loan agreements and promissory notes on behalf of MIL, Nawata authorized, permitted and acquiesced in MIL's contravention, therefore breaching the cease trade order himself.

For his misconduct, Nawata has paid $6,000 to the BCSC and has agreed to resign any position that he holds as a director or officer of any issuer or registrant. He is also prohibited from acting as a director or officer of any issuer or registrant, acting as a registrant or promoter, acting in a management or consultative capacity in connection with activities in the securities market and engaging in investor relations activities.

Nawata's bans are to remain in effect until the later of the date that he successfully completes a course of study on the duties of corporate officers and directors that is acceptable to the Executive Director or October 13, 2017.

You may view the settlement agreement on our website by typing Richard Dean Reoji Nawata or 2016 BCSECCOM 351 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 and companies 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

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