News Release

Vancouver – A panel of the British Columbia Securities Commission (BCSC) has provided direction on the retention and disbursement of $4,280 in recovered funds collected from Weiqing Jane Jin, who was sanctioned for illegal insider trading. 

In 2015, the BCSC notified investors who lost money as a result of Jin’s illegal insider trading that they may make an application for compensation. The BCSC had recovered $4,280 from Jin, representing the amount she obtained through her misconduct.

Under the Securities Act, the BCSC must make available the money it receives from a section 161(1)(g) order to investors who lost money in that case. However, the BCSC did not receive any applications during the three-year period for the claims process.

A panel of the BCSC has now directed that the BCSC may retain the funds, plus accrued interest, and may expend them in accordance with the Act, including for:

• educating market participants and the public about investing, financial matters or the operation or regulation of securities markets,
• benefiting a third party the commission considers appropriate, or
• enforcement.

In July 2014, the Commission found that Jin engaged in illegal insider trading when she purchased 3,000 shares of Hathor Exploration Limited while in a special relationship with Hathor and with knowledge of an undisclosed material fact about Hathor.

For more information on how the BCSC returns funds to investors, visit the Returning Funds to Investorspage on the BCSC website.

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

Media Contact:
Elise Palmer
604-899-6830

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