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News Release

BCSC issues temporary order against B.C. company and individual

  • Date:

    2024-11-27
  • Number:

    2024/104

Update: On December 9, 2024, a BC Securities Commission panel extended for one year the temporary order on Baynsworth and Lloyd Holdings Inc.

Vancouver – The Executive Director of the BC Securities Commission (BCSC) has imposed a temporary order against a B.C. company and an individual connected to it.

The BCSC has obtained evidence that Baynsworth and Lloyd Holdings Inc. (Baynsworth) and James Michael Burnett may be making representations prohibited by B.C.’s Securities Act and violating the registration and prospectus requirements of the Act. BCSC staff have repeatedly asked Baynsworth and Burnett to stop this activity.

The temporary order prohibits the trading of any Baynsworth securities. It also prohibits Baynsworth and Burnett from engaging in promotional activities on behalf of Baynsworth or another person that is reasonably expected to benefit from the promotional activity. Baynsworth and Burnett are also prohibited from disseminating to the public, or authorizing the dissemination to the public, any information or record relating to any securities or investment advisory services offered by Baynsworth.

The temporary order was made based on the Executive Director’s determination that the length of time needed to hold a hearing into this conduct could be prejudicial to the public interest. The order expires on December 10, 2024, at which time the Executive Director may apply to.a Commission panel to extend it.

About the BC Securities Commission (bcsc.bc.ca)

The BC Securities Commission, an independent provincial government agency, strives to make the investment market benefit the public. We set rules, monitor compliance by industry, take action against misconduct, and provide guidance to investors and industry. As guardians of B.C.’s investment market, we’re committed to maintaining a market that is honest, fair, competitive and dynamic, enabling British Columbians to thrive.  

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