Law

The Manitoba Securities Commission (MSC) may issue orders against individuals or companies who have contravened The Securities Act or The Commodity Futures Act. The orders may be made after a hearing or pursuant to a settlement agreement. The MSC may ban respondents from certain types of activity. In addition, as set out in The Securities Act, the Commission may order respondents to pay administrative penalties, voluntary payments and costs of proceedings.

Holding respondents accountable for their misconduct is important for investor protection as well as protecting the integrity of the Manitoba capital market. As such, and in the interest of maintaining transparency, the Manitoba Securities Commission provides the list below of respondents who have not paid administrative penalties or costs of proceedings ordered by the MSC. To access this information, refer to the full order imposed upon the respondents by clicking the “Date of Decision” link beside each respondent.

The Unpaid Orders list below is updated twice a year. Those who have satisfied orders are removed from the list at this time. Any respondents who are appealing an MSC order will remain on the list while the appeal is ongoing.

The Unpaid Orders list provides the status as follows:

Unpaid (Full) – no payments have been made on the original amount ordered or agreed
Unpaid (Partial) – a partial amount has been paid
Paying as Agreed – payments are being made in accordance with a payment arrangement that is in effect.

Last updated: June 2023