News Release
BCSC imposes $22,500 penalty on B.C. resident for omitting disciplinary history from corporate documents
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Date:
2025-06-20 -
Number:
2025/043
Vancouver – The Executive Director of the BC Securities Commission (BCSC) has ordered a B.C. resident to pay a $22,500 administrative penalty for failing to disclose his past misconduct in corporate documents.
David Charles Greenway acted as a director – and in some cases as a CEO or president – of five reporting issuers including Majuba Hill Copper Corp. (formerly Bam Bam Resources Corp.), Recharge Resources Ltd. and Ultra Brands Ltd. (formerly Feel Foods Ltd.) between 2018 and the present. In 2012, the BCSC found that Greenway engaged in illegal insider trading, ordering him to pay a $19,177 administrative penalty and restricting his participation in the investment market for five months.
The BCSC’s Executive Director found that Greenway violated national rules for continuous disclosure by reporting issuers because he authorized, permitted or acquiesced in the failure by Majuba Hill, Recharge Resources and Ultra Brands to disclose that disciplinary history in seven information circulars. (An information circular is a document that describes important matters to be discussed at a reporting issuer’s annual general shareholders’ meeting.)
In imposing the penalty on Greenway, BCSC Executive Director Peter Brady wrote, “Greenway’s conduct demonstrates a serious lack of diligence falling below what is expected of a public company director and officer – especially an experienced one who had been disciplined for a past contravention based on lack of knowledge.”
The penalty was reduced from $25,000 to $22,500 after Greenway exercised his opportunity to be heard.
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:
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