News Release

Former Vancouver Island portfolio manager admits to facilitating risky investments

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Vancouver – A former Vancouver Island portfolio manager has agreed to pay $60,000 to the B.C. Securities Commission (BCSC) for steering his clients into an unsuitable investment.

As a portfolio manager with Fieldhouse Capital Management Inc., Qualicum Beach resident Todd David MacSween was responsible for managing one of the firm’s investment funds, the Class M Global Macro Core Fund. He also acted as a portfolio manager for clients, most of whom invested in Class M.

A BCSC compliance review of Fieldhouse in August 2021 revealed that 16 of MacSween’s clients invested approximately $4.3 million in Class M, even though the fund was too risky for each of them and unsuitable for their needs, objectives and personal and financial circumstances.

By placing his clients in Class M, MacSween failed to maintain current and accurate “Know Your Client” information about them, and failed to ensure the fund was suitable for them.

MacSween made early admissions as to this misconduct, thus avoiding the need for further enforcement proceedings, including a panel hearing. He expressed remorse for his conduct, was cooperative with BCSC staff and worked proactively with his clients to address and mitigate harm.

As part of the BCSC’s settlement agreement with MacSween, he is prohibited for eight years from:

  • becoming or acting as a registrant or promoter, and
  • engaging in promotional activities by – or on behalf of – an issuer, security holder or party to a derivative, or another person that would benefit from such activity.

About the B.C. Securities Commission (

The B.C. 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:
Brian Kladko

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