{"id":16794,"date":"2019-09-13T18:57:11","date_gmt":"2019-09-13T22:57:11","guid":{"rendered":"https:\/\/insurance-journal.ca\/article\/bc-regulator-sanctions-richmond-man\/"},"modified":"2019-09-13T18:57:11","modified_gmt":"2019-09-13T22:57:11","slug":"b-c-regulator-sanctions-richmond-man","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2019\/09\/13\/b-c-regulator-sanctions-richmond-man\/","title":{"rendered":"B.C. regulator sanctions Richmond man"},"content":{"rendered":"\n<div><img decoding=\"async\" src=\"http:\/\/insurance-journal.ca\/media\/photologue\/photos\/photo_web_2885.png\" class=\"ff-og-image-inserted\"><\/div>\n<p>The <strong>British Columbia Securities Commission<\/strong> (BCSC) announced Sept. 12 that it has reached a settlement agreement with a Richmond man who admitted to illegally selling shares of his company.<\/p>\n<p><strong>John Cockburn<\/strong> was the sole officer and director of <strong>Smart Trak Technologies Inc.<\/strong>, which at the time of the misconduct, was involved in developing a security device that tracked cargo using GPS.<\/p>\n<p>\u201cSmart Trak sold shares to 83 investors, raising $866,000, without a prospectus, a formal document that explains the details of an investment and the risks involved. None of the investors qualified for an exemption from the prospectus requirements under the <em>Securities Act<\/em>,\u201d says the BCSC.<\/p>\n<p>The BCSC issued a cease trade order against Smart Trak in 2017 for failing to file reports of the stock sales to the BCSC.<\/p>\n<p>As part of the settlement, Cockburn agreed to pay $20,000 to the BCSC. He is also&nbsp;prohibited for four years from: trading in or purchasing securities or exchange contracts (with some limited exceptions); being a director or officer of any issuer or registrant; being or acting as a registrant or promoter; acting in a management or consultative capacity in connection with the securities market; and engaging in investor relations activities.<\/p>\n<p> <a href=\"https:\/\/insurance-journal.ca\/article\/bc-regulator-sanctions-richmond-man\/\">Read the original article at insurance-journal.ca <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The British Columbia Securities Commission (BCSC) announced Sept. 12 that it has reached a settlement agreement with a Richmond man who admitted to illegally selling shares of his company. John Cockburn was the sole&#46;&#46;&#46;<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/16794"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=16794"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/16794\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=16794"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=16794"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=16794"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}