The B.C. Securities Commission says anyone who hasn’t paid fines related to investment misconduct is at risk of losing their vehicle insurance, renewal of a driver’s licence or plates. THE CANADIAN PRESS/Adrian Wyld

The B.C. Securities Commission says anyone who hasn’t paid fines related to investment misconduct is at risk of losing their vehicle insurance, renewal of a driver’s licence or plates. THE CANADIAN PRESS/Adrian Wyld

B.C. residents with unpaid securities fines could lose driving privileges

Canada’s first such law has come into effect, giving the commission power to block driving privileges if $3,000 or more is owed

The B.C. Securities Commission says anyone who hasn’t paid fines related to investment misconduct is at risk of losing their vehicle insurance, renewal of a driver’s licence or plates.

It says in a release that Canada’s first such law was passed in B.C. in 2019 and has now come into effect, giving the commission powers to block driving privileges if the amount owed is $3,000 or more.

Commission CEO Brenda Leong says the consequences would impact daily life for people whose actions harm investors and capital markets.

Financial sanctions can be ordered by a commission panel or a court when either has determined an individual violated the Securities Act.

The commission says individuals could also be ordered to pay the amount they obtained through the misconduct, which would then be paid to investors who suffered financial losses.

It says all monetary sanctions are registered with the Supreme Court of British Columbia, giving it the same force as if it issued a judgment.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Fraser Health held a COVID-19 vaccine clinic at Gurdwara Dukh Nivaran Sahib in Surrey, which would be in what the BCCDC refers to as the Panorama community, on Friday, May 7, 2021. Roughly 400 people pre-registered to get their vaccine the week before. (Photo: Lauren Collins
Surrey communities recording more COVID-19 cases also seeing lower vaccination rates

Those same communities were highlighted in the SPEAK survey, which highlighted disparities in the city

The College of Massage Therapists of B.C. says Van (William) Dinh, a registered massage therapist in Surrey and Langley, has had his licence suspended while an inquiry committee panel investigates allegations of sexual misconduct. (Unsplash photo)
Surrey massage therapist suspended amid sexual misconduct investigation

CMTBC received complaint Van (William) Dinh allegedly exposed ‘sensitive areas of the patient’s body’

Hundreds gathered for a candlelight vigil Friday evening (May 7) to remember 29-year-old corrections officer Bikramdeep Randhawa, who was killed in last weekend’s brazen daylight shooting outside North Delta’s Scottsdale Centre mall. (James Smith photo)
Hundreds gather to remember victim of North Delta shooting

Corrections officer Bikramdeep Randhawa, 29, was killed in what police say was a targeted incident

TEASER PHOTO ONLY
Surrey woman a face of World Ovarian Cancer Day campaign in London, New York

‘It’s so important we find better treatments,’ Catherine Eiswerth says

Flags flown at half mast out front of Fraser Regional Correctional Centre for slain corrections officer Bikramdeep Randhawa. (Neil Corbett/ The News)
Public vigil and flying flags at half mast done to honour slain prison guard

Maple Ridge corrections officer Bikramdeep Randhawa, 29, is being remembered in a number of ways

(The Canadian Press)
Trudeau won’t say whether Canada supports patent waiver for COVID-19 vaccines

‘Canada is at the table to help find a solution’

A map showing where the most number of cases were recorded from April 23 to 29. This map, revealing a breakdown of infections by neighborhood, was pulled from a data package leaked to the Vancouver Sun last week (and independently verified).
36 Abbotsford schools flagged for COVID-19 exposures in the last 2 weeks, shattering record

Clearbrook Elementary recorded an ‘exposure’ on all 11 school days

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

Canada’s chief public health officer is reminding Canadians even those who are fully vaccinated are not immune from transmitting the COVID-19. THE CANADIAN PRESS/Adrian Wyld
Canada’s top doctor warns full vaccination does not equal full protection from COVID-19

Post-inoculation, Theresa Tam says the risk of asymptomatic infection and transmission is far lower but not obsolete

The dash cam footage, taken May 7 at 8:18 a.m. belonged to the driver of a southbound vehicle that recently travelled out of the tunnel. (Reddit/Screen grab)
VIDEO: Dash cam captures dramatic rollover crash on Highway 99

Only one person sustained injuries from the collision, says B.C. Ambulance Services

Chevy stranded on a ledge above a rocky canyon at Mimi Falls near Logan Lake, April 28, 2021. (Photo credit: Margot Wikjord)
Police officer and fire chief team up in risky rescue of stranded dog near Logan Lake

Chevy, a rescue dog, needed rescuing again after getting stuck on a ledge above rocky canyon

Police were on the scene of a fatal shooting in Abbotsford. (Black Press Media files)
B.C. government to give more than $8 million for programs to curb gang violence

221 not-for-profit projects led by local governments and school districts among others will receive a one-time grant

Vancouver Giants earned a 6-2 victory over the visiting Kelowna Rockets Friday night, May 7, in Kamloops (Allen Douglas/special to Langley Advance Times)
VIDEO: Vancouver Giants down Kelowna Rockets 6-2

Two short-handed goals for Langley-based team

Most Read