News Release

Vancouver – A B.C. resident has pleaded guilty to one count of breaching an order of the BC Securities Commission (BCSC).

Marcel Anil Rada, 60, appeared before a judge April 24 in North Vancouver Provincial Court, where he admitted that he failed to comply with an order made under B.C.’s Securities Act.

Between 2017 and 2025, Rada acted as a director or officer of an issuer despite being permanently banned by a BCSC panel from doing so in 2017. That ban was based on a 2011 decision by the Investment Industry Regulatory Organization of Canada (IIROC), a self-regulatory body that later became the Canadian Investment Regulatory Organization.

IIROC found Rada admitted he solicited and obtained $205,000 in funds from individuals for the purpose of investing in two issuers, without disclosing that a significant portion of that money, more than $175,000, would then be paid to him. Further, Rada admitted to facilitating off-book transactions without the knowledge and consent of his employer. He also refused to produce bank records and attend an interview with IIROC staff when asked.

The charges are a quasi-criminal offence under the Act and carry the possibility of fines, imprisonment, probation and/or restitution orders.

The sentencing hearing for Rada has been scheduled for July 15.   

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