By The Book: BCSC dismisses Golden request

(February 7, 2008) The BCSC has dismissed an application by the IDA to block an order brought by Golden Capital Securities. Golden had been ordered to identify documents stored on its hard drives to IDA staff no later than January 11, 2008.

Golden claimed client/solicitor privilege on the documents, but the BCSC disagreed. The firm has already been found to have violated IDA bylaws by failing to co-operate with an investigation.

IDA staff is currently challenging Golden’s claim of privilege on documents the regulator says it requires for an investigation into the firm’s supervision of the opening and handling of certain investment accounts by three of its employees.

A penalty hearing has been adjourned to March 12, 2008, with written submissions to be exchanged by the parties in advance of the hearing.

(02/07/08)

Staff

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