BCSC panel dismisses allegations that B.C. man and company distributed securities without a prospectus
Vancouver - A British Columbia Securities Commission (BCSC) panel has dismissed allegations that Kenneth William Trociuk and CAAS Mining Corporation distributed securities without a prospectus. The panel also dismissed the allegation that Trociuk provided false or misleading information to the Executive Director.
CAAS was a company incorporated under the laws of B.C. on January 13, 2010. Trociuk incorporated CAAS (or had it incorporated on his behalf). CAAS has never filed a prospectus under the Securities Act. Trociuk was the sole director and officer of CAAS and its only registered shareholder. CAAS was dissolved on July 1, 2013 for failing to file annual reports.
CAAS distributed securities to an investor in return for $15,000 and it did so without a prospectus. However, the investor was a relative of the person the panel found to be a "founder" of CAAS at the relevant time. Therefore, there was no illegal distribution because the investor was related to a founder of the company and the respondents were eligible to use a prospectus exemption - the Family, Friends, & Business Associates Exemption for the distribution.
You may view the findings decision on our website, www.bcsc.bc.ca, by typing CAAS Mining Corporation, Kenneth William Trociuk, or 2017 BCSECCOM 296 in the search box. Information about disciplinary proceedings can be found in the Enforcement section of the BCSC website.
Please visit the Canadian Securities Administrators' (CSA) 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 of Canada (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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