B.C. advisor to pay $176K settlement for unregistered trading

By Staff | July 16, 2018 | Last updated on July 16, 2018
1 min read

In a settlement agreement with the British Columbia Securities Commission (BCSC), an investment dealer has admitted to unregistered trading.

Thomas Geoffrey Bertram, who was registered as an investment dealer for about 40 years, until Jan. 31, 2017, must pay $176,970.93 to the BCSC as part of the settlement. The amount represents finder’s fees received as well as a misconduct penalty.

Between March 24, 2017, and May 31, 2017, when no longer registered, Bertram assisted three issuers with raising about $3.1 million from six investors, receiving a total of $126,970.93 in finder’s fees from the issuers, a release from BCSC says.

As a result, Bertram breached the Securities Act by trading in securities without being registered and without an available exemption from the registration requirement, the release says.

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The staff of Advisor.ca have been covering news for financial advisors since 1998.