British Columbia Securities Commission

British Columbia Securities Commission

October 21, 2010 09:00 ET

BCSC Executive Director's Bulletin: Securities Regulator Alleges Illegal Phone Activity and Unregistered Trading

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 21, 2010) - The executive director of the British Columbia Securities Commission has issued a notice of hearing alleging that Frederick Johnathon Nielsen ran an illegal telephone room for the purpose of marketing and selling securities.

The notice of hearing says that, from March through May 2009, Nielsen, who was previously known as Frederick John Gilliland, organized and operated the telephone room in Surrey, B.C. The notice says Nielsen hired four people, who he supervised and instructed to make numerous calls to mostly U.S. residents for the purposes of selling and marketing the shares of Green Farms International Inc., a private U.S. company.

Additionally, the notice says that Nielsen participated directly in phone calls to residences, and followed-up via e-mail on leads the salespeople generated from their calls.

The notice alleges Nielsen violated B.C. securities laws by occasionally telephoning and having others telephone residences for the purposes of trading in a security. The notice also alleges that Nielsen traded in securities without being registered.

These allegations have not been proven. Counsel for the executive director will apply to set dates for a hearing into the allegations before a panel of commissioners on Nov. 10, 2010.

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
    Media Relations
    604-899-6577 or (Canada) 1-800-373-6393
    www.bcsc.bc.ca