This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Mike Caswell

The B.C. Securities Commission has banned West Vancouver's Anthony Jackson and fined him $100,000 for his part in an abusive scheme involving $50.8-million worth of private placements. The BCSC says that Mr. Jackson was part of an arrangement in which public companies issued millions of shares using exemptions normally reserved for consultants. The consultants did little or no work, according to the BCSC.

The penalties for Mr. Jackson are contained in a settlement agreement that the BCSC released on Monday, March 4. In settling the case, Mr. Jackson has agreed to pay $100,000 and has agreed to an eight-year officer and director ban, a five-year consultant ban, and a three-year trading ban. The settlement applies to Mr. Jackson and to a pair of private companies that he controls, with those being Bridgemark Financial Corp. and Jackson & Company Professional Corp.

The penalties stem from a scheme that ran from February to August, 2018, and involved 12 Canadian Securities Exchange companies. According to the BCSC, Mr. Jackson and others arranged agreements in which consultants were to provide services to those CSE companies. The BCSC says that the agreements saw the consultants perform little or no work, and served as a way to extract tradable shares from the companies.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS