Investors who lose money in securities trading fraud cases can for the first time lay claim to at least a portion of funds seized directly from the B.C. Securities Commission.
Changes to the B.C. Securities Act in 2013 gave the commission a formal process for investors to make claims for their losses in enforcement cases, rather than ad hoc efforts it previously used.
A 2012 gold and foreign exchange futures-trading fraud case against Michael Robert Shantz and his firm Canadian Pacific Consulting, in which Shantz solicited Swiss and German investors to buy in, is the first to fall under the new policy. The registry of recovered funds and forms to register for claims are on the commission’s website under the enforcement tab.
VANCOUVER SUN – MARCH 19, 2015.
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