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News Release

Mortgage investment corporation must pay $25,000 for unregistered trading

  • Date:

    2024-11-05
  • Number:

    2024/096

Vancouver – A B.C.-based mortgage investment corporation has agreed to pay $25,000 to the B.C. Securities Commission (BCSC) after admitting to trading securities without being registered by soliciting investors.

Van Burrard Mortgage Investment Corporation distributed $2.96 million worth of its own shares to 31 purchasers through 35 trades between July 2018 and February 2024.

The trading of its shares triggered the requirement to be registered under B.C.’s Securities Act, but it was not registered under the Act in any capacity and did not have an exemption from the registration requirement.

The corporation is in the process of winding down its business and has undertaken not to distribute any additional securities.

Van Burrard, which doesn’t have a history of securities misconduct, fully cooperated with the investigation and voluntarily provided information to investigators.

About the B.C. Securities Commission (bcsc.bc.ca)

The B.C. 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