“If investors and our capital markets are harmed because of misconduct, there should be consequences. If you don’t pay the sanctions we impose, it can have an impact on your everyday life,” said Brenda Leong, BCSC Chair and Chief Executive Officer.
The new penalties will only impact those owing $3,000 or more, and even then the Commission will exercise its discretion and judge each case individually. The BCSC must also notify the resident of the action and withdraw it if the subject agrees to pay up, either in full or on a payment plan.
B.C. is the first province in the nation to go after its residents’ driving privileges over investment misconduct.