Mayors join finance minister to discuss, share feedback on landmark tax

B.C. introduces stronger protections against white-collar crime

February 8, 2023 at 2:23 pm  BC, News, Politics, Provincial

Backgrounders

  • The BC Securities Commission is the regulator responsible for administering the Securities Act.
  • The Securities Act regulates the buying and selling of securities, such as stocks, bonds and other financial instruments, and the raising of funds by companies in the capital market. 
  • The Securities Act was most recently updated in 2019, prior to which it was falling behind other provinces that regularly update their securities legislation.
  • These amendments are a continuation of that process.
  • The enhanced B.C. Securities Act will:
    • help the BCSC obtain the evidence it needs to investigate misconduct by imposing consequences to witnesses who refuse to provide necessary information.
    • improve BCSC’s ability to collect fines from fraudsters by removing enforcement barriers to collecting certain pensions funds.
  • In 2020, B.C. was the first jurisdiction in Canada to gain better tools to investigate offences and collect money from wrongdoers, which can be returned to investors.

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