B.C. Finance Minister Carole James. (Black Press)

B.C. moves against bad investment dealers

Carole James says seniors getting new protection from ‘fraudsters’

The B.C. government is plugging a loophole in its securities legislation to allow investment industry penalties to be enforced by the regulator in B.C. Supreme Court.

Finance Minister Carole James joined representatives of the Investment Industry Regulatory Organization of Canada (IIROC) at a Victoria seniors’ centre Friday to explain the changes James has introduced in the B.C. legislature.

“Many British Columbians invest their life savings in the securities market,” James said. “They expect their money will be safe from fraudsters.”

The industry self-regulator reports that it currently has $4.7 million in unpaid fines against individuals in B.C. dating back to 2008. It conducted 21 investigations of securities sales in 2017, with seven prosecutions completed.

“Seniors form IIROC’s largest source of complaints and represent the highest proportion of victims of misconduct,” the agency said in a statement. “Almost 40 per cent of all cases reviewed and approximately 30 per cent of prosecutions involve seniors.”

B.C. and Manitoba are moving to join Alberta, Ontario, Quebec and Prince Edward Island in enforcing IIROC penalties in court.

Just Posted

December windstorms led to record ferry cancellations

Baileys for breakfast? It may not be what the doctor ordered, but… Continue reading

RCMP to review actions at Wet’suwet’en pipeline protest camps

Senior Mountie says he hopes protests will be peaceful following deal with hereditary chiefs

On the Wing: Christmas Bird Count #4 — Skidegate Inlet

By Margo Hearne The marine forecast read “winds northwest 15 to 25… Continue reading

Haida Gwaii mountain biking gets in gear

The frost was gone, but the iced puddles on Mac Blo Road… Continue reading

Letters: A thank-you and update from Hooterville

First and foremost, I wish to express my gratitude to the many… Continue reading

VIDEO: Car flies across median, flips over edge of B.C. overpass

Dash cam footage shows vehicle speeding across Brunette Avenue overpass in Coquitlam

Indigenous energy summit includes session on pipeline ownership options

Steven Saddleback of the Indian Resource Council says a session will feature presentations on financing models

Japanese grand champion Kisenosato retires from sumo

The 32-year-old Kisenosato was the first Japanese-born wrestler in 19 years to gain promotion to sumo’s highest rank

UPDATE: Accused B.C. high school killer found fit to stand trial

Gabriel Klein is accused in the 2016 stabbing death of Letisha Reimer at Abbotsford Senior Secondary

Right-wing, neo-Nazi, white supremacist groups an increasing concern: Goodale

Ten people died in April 2018 when Alek Minassian allegedly drove a rental van down the busy stretch in Toronto

Canadian stock exchanges to conduct lottery for ‘POT’ ticker amid high demand

The symbol became available after fertilizer Potash Corp. officially merged with Agrium Inc. in early 2018

Millennial Money: Don’t let Instagram envy get you into debt

A full 48 per cent of U.S. households have credit card debt

Jury debates fate of man accused of killing 12-year-old B.C. girl 40 years ago

Police allege Garry Handlen told a cop how he abducted, sexually assaulted and strangled Monica Jack in May 1978

Most Read