BCSC enjoys certain powers not available to U.S. SEC

The B.C. Securities Commission (BCSC) and US Securities and Exchange Commission (SEC) are heading in opposite directions when it comes to their respective administrative powers. The BCSC used a new enforcement tool to fine a Langley asset manager $12,000. Capstone Asset Management Inc agreed to the...

Full description

Saved in:
Bibliographic Details
Published in:Business in Vancouver 2024-07 (1811), p.9
Main Author: Wood, Graeme
Format: Article
Language:English
Subjects:
Fines & penalties
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:The B.C. Securities Commission (BCSC) and US Securities and Exchange Commission (SEC) are heading in opposite directions when it comes to their respective administrative powers. The BCSC used a new enforcement tool to fine a Langley asset manager $12,000. Capstone Asset Management Inc agreed to the fine without a hearing after BCSC executive director Peter Brady determined the firm's level of insurance was inadequate. The commission was granted the ability to fine market participants without a hearing in 2020, as part of sweeping reforms aimed to hasten the regulatory process as well as collect on unpaid penalties.
ISSN:0849-5017