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

Savanah Sanchez with a likeness of herself in a Canucks’ uniform done by her mom Jessica. (Photo by Don Bodger)
Girl’s passion for hockey knows no bounds

No games, but extensive ice time for training beneficial to Sanchez

Fuller Lake Skating Club.
Figure skating and CanSkate awards presented on the ice

Deserving individuals still recognized in pandemic season

New logo unveiled. (Submitted)
Board of Education seeking feedback on 2021-2022 budget

Public helps determine the allocation of resources

Photo collage of loved ones lost to substance use and overdose. (Photo courtesy Moms Stop The Harm)
B.C. overdose deaths still rising 5 years after public health emergency declared

Moms Stop the Harm calls on B.C. to provide safe supply in response to deadly illicit drug use

John and Jeri Wyatt hope the upcoming North Cowichan public hearing will move things along toward exclusion of the Chemainus River Campground from the Agricultural Land Reserve. (Photo by Don Bodger)
Opportunity for input on campground ALR exclusion at public hearing

Matter back on the agenda after a late reprieve in 2019 for Chemainus River Campground owners

Demonstrators at the legislature on April 14 called on the province to decriminalize drug possession and provide widespread access to regulated safe supply across B.C. (Jake Romphf/News Staff)
Rally calls for decriminalization, safe supply on 5th anniversary of overdose emergency declaration

From 2016 to the end of February, 7,072 British Columbians died due to overdose

(Government of Canada)
Liberal MP caught stark naked during House of Commons video conference

William Amos, in Quebec, appeared on the screens of his fellow members of Parliament completely naked

Provincial health officer Dr. Bonnie Henry updates B.C.’s COVID-19 situation at the B.C. legislature, Feb. 1, 2020. (B.C. government)
B.C.’s COVID-19 case count jumps to 1,168 Wednesday, nearly 400 in hospital

Now 120 coronavirus patients in intensive care, six more deaths

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

Moss covered branches are seen in the Avatar Old Growth Forest near Port Renfrew on Vancouver Island, B.C. Thursday, Sept. 29, 2011. THE CANADIAN PRESS/Jonathan Hayward
B.C. blockades aimed at protecting old-growth forests reveal First Nation split

Two Pacheedaht chiefs say they’re ‘concerned about the increasing polarization over forestry activities’ in the territory

Richmond RCMP Chief Superintendent Will Ng said, in March, the force received a stand-out number of seven reports of incidents that appeared to have “racial undertones.” (Phil McLachlan/Capital News)
‘Racially motivated’ incidents on the rise in B.C’s 4th largest city: police

Three incidents in Richmond are currently being invested as hate crimes, says RCMP Chief Superintendent Will Ng

Commercial trucks head south towards the Pacific Highway border crossing Wednesday (April 14, 2021). The union representing Canadian border officers wants its members to be included on the frontline priority list for the COVID-19 vaccine. (Aaron Hinks photo)
CBSA officers’ union calls for vaccine priority in B.C.

Border officers at ports including, YVR and land crossings should ‘not be left behind’

(Amandalina Letterio - Capital News)
Kelowna demonstrators show support for Vancouver Island logging activists

Two Kelowna men stood atop a pedestrian bridge on Harvey Avenue to raise awareness about old-growth forests

Most Read