News Release

Vancouver - A British Columbia Securities Commission (BCSC) panel has ordered monetary sanctions and permanent market bans against Roy Ping Bai (a.k.a. Ping Bai) for fraud. The general partnership he controlled, RBP Consulting, also received permanent market bans.   

Bai was a resident of Vancouver and West Vancouver, B.C. during the relevant period. RBP Consulting is a general partnership of which Bai and his wife were the only two partners. Bai was RBP's sole operating and controlling mind.

In February, the panel found that Bai and RBP received $1,530,000 from investors who were told their funds would be invested in foreign exchange trading. The respondents deposited $129,000 in foreign exchange trading accounts and used the rest of the investors' funds for other purposes. 

When describing the seriousness of Bai's misconduct, the panel also noted that he and RBP "carried out an extensive campaign of deceit, which was designed to forestall investors from seeking the return of their funds and from learning of the respondents' misappropriation of their investments."

The panel has ordered that Bai resign any position he holds as a director or officer of an issuer or registrant and pay an administrative penalty of $1 million. He has also been ordered to pay a disgorgement of $1,291,000.

Bai has also been permanently banned from trading in or purchasing any securities or exchange contracts; relying on any of the exemptions set out in the Securities Act, the regulations or a decision; becoming or acting as a director or officer of any issuer or registrant; becoming or 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.

The panel also ordered that RBP be permanently banned from trading in or purchasing any securities or exchange contracts; relying on any of the exemptions set out in the Securities Act, the regulations or a decision; becoming or 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.

You may view the sanctions decision on our website, www.bcsc.bc.ca, by typing Roy Ping Bai, RBP Consulting or 2018 BCSECCOM 156 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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Media Contact:
Alison Walker
604-899-6713

Public inquiries:
604-899-6854 or 1-800-373-6393 (toll free)
inquiries@bcsc.bc.ca

Learn how to protect yourself and become a more informed investor at www.investright.org