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

Incumbents and acclaimed mayors win elections all across B.C.’s north

Fraser Lake saw their first female mayor elected

Mayoral results from across B.C.

Voters in 162 municipalities in B.C. set to elect mayor, council, school board and more

Hop, hop and a fourth win for Rupert Rampage

Prince Rupert scored four goals in the first period of its 9-2 victory over Quesnel Kangaroos

Every vote counts: 10 tightest races in B.C.’s municipal elections

Peachland saw their election decided by just one vote

Heart of Our City: Four-legged care

Paul Kennedy has spent more than 40 years working as a vet in Prince Rupert

This Week Pocast – Episode 107

Rainbow Nation’s host Russel Adams joins the show to talk about elections, cannabis and Halloween

Delivering the paper as a family

The Northern View is looking for newspaper carriers in Prince Rupert, join our team today

B.C. Youtuber to seal himself ‘in a jar’ to demonstrate impacts of climate change

Kurtis Baute wants to see how long he can last in a 1,000 cubic foot, air-tight greenhouse

One of Taiwan’s fastest trains derails, killing at least 18

The train was carrying more than 360 people

Scheer marks one-year countdown to federal election with campaign-style speech

Conservative Leader insists that it will be Justin Trudeau who ‘makes it personal’

Canada Post union announces rotating strikes in four Canadian cities

Mail will still be delivered but it will be delayed

B.C. VIEWS: Residents have had enough of catering to squatters

Media myth of homeless victims offends those who know better

B.C. man sets new Canadian marathon record at Toronto Waterfront Marathon

Cam Levins ran it in two hours nine minutes 25 seconds

B.C. Liberals’ hopes high as Nanaimo by-election approaches

Historically safe NDP seat vacated by long-time MLA Leonard Krog

Most Read