Securities Law

BCN 2007/06 - Adoption of BC Instrument 15-501 Disclosure of Investigation Information and BC Policy 15-501CP [BCN - Lapsed]

Published Date: 2007-02-20
Rescinded Date: 2012-05-30
Related Document(s):

Concurrently Published:

Effective February 20, 2007, the Commission adopts BC Instrument 15-501 Disclosure of Investigation Information (the instrument) and BC Policy 15-501CP Disclosure of Investigation Information. The Commission consents under section 148 of the Securities Act to the disclosure of compelled investigation information in the circumstances set out in the instrument.

The primary purpose of the instrument is to consolidate the following consents:

  • the Commission's consent dated August 17, 1989 entitled "Disclosure of Information Acquired Pursuant to Investigation Orders"
  • COR#00/161 Consent to Disclose Information on Court Applications: Blanket Order
  • COR#03/160 Consent to Disclose
  • COR#04/014 Blanket Consent for Staff to Release Evidence to SROs Under Section 148 of the Securities Act, R.S.B.C. 12996, c. 418
  • COR#04/081 Consent to Disclose - after notice of hearing
  • COR#04/082 Consent to Disclose - by staff

These consents have been revoked by COR# 07/019 Revocation of Blanket Consents.

The instrument also expands the existing consents in the following ways:

  • Commission staff may disclose information for the purpose of any proceedings commenced by the Executive Director or Commission, not just proceedings to enforce a demand or summons
  • staff may share information with a broad range of securities regulators and government agencies everywhere, not just local self-regulatory organizations
  • staff may share information to comply with court orders
  • regulators and agencies who receive information under the instrument may use it in the same way as Commission staff
  • persons other than staff may disclose information for the purposes of administrative, civil and criminal proceedings.

The broadened relief reflects discretionary relief that has been granted on an individual basis in the past. It will allow Commission staff and other agencies to carry out their mandates. It will also allow people involved in legal proceedings to fully prepare for and freely participate in those proceedings.
 

Although the Commission has adopted the instrument, it will consider comments received within 30 days from this notice.


Questions
You may refer questions to:

Peter Brady
Senior Enforcement Counsel
British Columbia Securities Commission
pbrady@bcsc.bc.ca

February 20, 2007

 


Douglas M. Hyndman
Chair


This Notice may refer to other documents. These documents can be found at the B.C. Securities Commission public website at www.bcsc.bc.ca in the section Securities Law & Policy: Policies & Instruments

 

COR#07/019

Revocation of Blanket Consents

Section 171 of the Securities Act, RSBC 1996, c. 418

The Commission, considering that to do so would not be prejudicial to the public interest, revokes the following consents under s. 148 of the Securities Act or its predecessor:

1. the Commission's consent dated August 17, 1989 entitled "Disclosure of Information Acquired Pursuant to Investigation Orders"
2. COR#00/161 Consent to Disclose Information on Court Applications: Blanket Order
3. COR#03/160 Consent to Disclose
4. COR#04/014 Blanket Consent for Staff to Release Evidence to SROs Under Section 148 of the Securities Act, R.S.B.C. 12996, c. 418
5. COR#04/081 Consent to Disclose - after notice of hearing
6. COR#04/082 Consent to Disclose - by staff

February 20, 2007

 


Douglas M. Hyndman
Chair