News Release

Vancouver – A B.C. resident paid $30,000 to the BC Securities Commission (BCSC) for brokering syndicated mortgages without being registered.

Alan James Fetterly – a registered sub-mortgage broker –brokered three syndicated mortgages between 2018 and 2024.

In brokering the syndicated mortgages, Fetterly triggered the requirement to register in several ways, including by acting like a registrant, soliciting lenders for the syndicated mortgages and earning nearly $50,000 in commissions for brokering, but he was not registered under B.C.’s Securities Act, nor did he qualify for an exemption from the registration requirement. By engaging in the business of trading in securities without being registered and without an exemption, he violated B.C.’s Securities Act.

There is no evidence of investor harm and Fetterly had previously received legal advice which failed to identify that brokering syndicated mortgages would trigger securities laws.

Fetterly, who has no prior history of securities misconduct, admitted to his wrongdoing and fully cooperated with the BCSC’s investigation in accordance with BC Notice 15-701, Credit for Cooperation in Enforcement Matters. 

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