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

Recent online kitten abuse video raises serious social media questions

UBC and UFV profs weigh in on the subject of online sharing, shaming, and our digital landscape

Police search for body under Agassiz Rosedale Bridge

Swimmers discovered body two days ago

BIA disallows campaign booths at Chilliwack’s Party in the Park nights

Candidate calls it ‘suppressing the vote’ while Waddington invites all to his Mill St. office Friday

Head of Chilliwack RCMP sums up six months of policing the city

Supt. Bryon Massie addresses city council to talk about 15 new officers

A man around town: Trevor McDonald

If it’s musical or entertaining and in Chilliwack, Trevor McDonald’s probably had a hand in it

Through your lens: Okanagan wildfires

Check out some of the captivating images and video from social media of the wildfires

Canadian government threatens to retaliate if Trump imposes auto tariffs

U.S president had suggested that auto imports pose a national security risk to the U.S.

Wildfire evacuation order forces bride to search for new wedding venue

Fitzpatrick Family Vineyards is under an order due to the Mount Eneas wildfire south of Peachland

UPDATED: ICBC fights back against claims that it’s ‘ripping off’ B.C. RV drivers

Canadian Taxpayers Federation is urging the provincial government to open up ICBC to competition

Summerland issues State of Local Emergency in response to wildfire

Two homes under evacuation order; evacuation alert remains in place as result of wildfire

A brother’s determination pushes B.C. cyclist to ride 2,500 km for heart care

#Cunnycan: Ryan Cunningham ‘pushing the envelope’ to support brother Craig’s foundation

B.C. hockey coach, nurse was killed in case of mistaken identity, police say

In Surrey, Paul Bennett’s wife makes a tearful plea for help in finding her husband’s killer

Lower Mainland blueberry farms expect solid season

Blueberry Council of B.C. says season will be better than last year

Man exposes himself with flashlight several times in Vancouver neighbourhood

Police say there have been at least four incidents over two months

Most Read