BCSC issues temporary orders against four companies and two B.C. individuals
Vancouver – The Executive Director of the British Columbia Securities Commission (BCSC) has issued temporary orders against four companies and two individuals as it investigates possible violations of the registration and prospectus requirements of the Securities Act and a possible breach of a prior BCSC order.
The temporary order includes a 15-day ban on the trading of securities of Talking Stick Media Incorporated, YourStick.com Media Inc., Rockin Bike Motorcycle Manufacturing Company Incorporated and Sturgis Canada Festival Incorporated.
In addition, the BCSC has imposed a 15-day prohibition on Raymond Michael Roger Sasseville (also known as Michael Ray Carrier) from:
- trading in or purchasing securities (with limited exceptions)
- becoming or acting as a director or officer of any reporting issuer or registrant, with exceptions
- relying on any of the exemptions under the Securities Act
- becoming or acting as a registrant or promoter
- advising or acting in a management or consultative capacity in connection with activities in the securities market
- and engaging in investor relations activities
Jonathon S. Reidar, along with the companies named above, are also prohibited from relying on any of the exemptions under the Act for 15 days.
In 2015, the BCSC found that Sasseville engaged in an illegal distribution and unregistered trading, and banned him from trading in or purchasing securities with limited exceptions, and from becoming or acting as a director or officer of any issuer except in limited circumstances, for at least five years. The orders remain in effect.
Under the Securities Act, the BCSC is able to issue Temporary Orders for 15 days if the length of time to hold a hearing would be prejudicial to the public interest.
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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