British Columbia Securities Commission

British Columbia Securities Commission

February 02, 2010 13:30 ET

BCSC Executive Director's Bulletin: Securities Regulator Gives Notice of Hearing to Extend Temporary Order Issued Against CEO of West Vancouver Company

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 2, 2010) - The executive director of the British Columbia Securities Commission has issued a notice of hearing to extend a temporary order against a B.C. man because he may have contravened various securities laws.

The order temporarily prohibits Luc Castiglioni, CPLC Management Group Ltd., and CPLC Limited Partnership from participating in B.C.'s capital markets.

The notice says BCSC staff is concerned that Castiglioni, CPLC Management's CEO, and the other respondents may have distributed securities without being registered and without filing a prospectus. It also says staff is concerned that Castiglioni, a B.C. resident, and the two others may have perpetrated a fraud and they may have made statements to investors they knew, or ought to have reasonably to have known, were false and misleading.

The notice also says that BCSC staff received complaints from investors that they were unable to redeem their investments.

These allegations have not been proven. At a hearing on Feb. 9, 2010 at 10 a.m., counsel for the executive director will ask a panel of commissioners to extend the temporary order until a decision is rendered.

The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province. You may view the notice of hearing on our website, www.bcsc.bc.ca. If you have questions, contact Ken Gracey, media relations, 604-899-6577.

Contact Information

  • British Columbia Securities Commission
    Ken Gracey
    604-899-6577 or (Canada) 1-800-373-6393
    www.bcsc.bc.ca