BC hits Gibraltar Global Securities with cease-trade order
Posted May 23, 2012 5:11 pm.
This article is more than 5 years old.
VANCOUVER (NEWS1130) – A company that provides offshore trading has been told to stop doing it in BC.
Gibraltar Global Securities Inc. has been hit with a cease-trade order by the BC Securities Commission for not being registered and refusing to provide information about its clients in this province.
The commission says one of those clients has been convicted of wire fraud and securities fraud in the US, and “another is the subject of a BCSC investigation for market manipulation” over the “deposit of securities in a Gibraltar account by a BC reporting issuer.”
The company is based in the Bahamas.
Last August, the regulator froze about $2.2 million in Gibraltar’s accounts at Global Securities in Vancouver.
