News Release

Vancouver – A Richmond resident has been sentenced after being found guilty of trading in securities without being registered and trading in securities without filing a prospectus, following an investigation by the BC Securities Commission (BCSC).

Richard Yung Shyang Chen was convicted and fined $4001 on July 4 at the conclusion of a trial in Vancouver Provincial Court.

Chen, a registered mutual fund dealing representative, promoted and facilitated two trades in investment contracts that were outside the scope of his registration, while also working as a bookkeeper for the organization offering the investments. The trading was related to two individuals who had invested $350,000 in a purported real estate investment opportunity involving a property on Osler Street in Vancouver’s Marpole neighbourhood.  

In addition to facilitating trading, neither Chen nor the other entities involved had filed a prospectus with the BCSC as required by law.  A prospectus is a formal document providing details of an investment.

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