B.C. broker who ‘lied’ ordered by securities regulator to pay $30,000 penalty
Posted May 8, 2015 06:31:23 PM.
This article is more than 5 years old.
VANCOUVER – British Columbia’s securities regulator has ordered a broker to pay a $30,000 penalty for misconduct.
The B.C. Securities Commission says its panel found William Wood traded in securities that were on his employer’s restricted list and set up an offshore structure to hide his trading activities.
The panel says Wood intentionally withheld the information from his employer and lied to commission staff and the Investment Industry Regulatory Organization of Canada.
The panel says in a written decision that Wood’s conduct raises concerns about his fitness to be a registrant and whether he represents a risk to the capital market.
In addition to the $30,000 penalty, Wood has been prohibited from becoming or acting as a registrant.
The panel says Wood also cannot be in a management or consultative role in connection to the securities market for a year.
