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

A syringe is loaded with COVID-19 vaccine at a vaccination clinic run by Vancouver Coastal Health, in Richmond, B.C., Saturday, April 10, 2021. THE CANADIAN PRESS/Jonathan Hayward
Interior Health announces 89 cases of COVID-19 in the region

Currently, there are 900 active cases in the region

B.C. wineries are open for indoor tasting despite new provincial health regulations. Photo- 
50th Parallel Winery, Instagram.
Indoor wine tastings still allowed in B.C., not considered a ‘social gathering’

“Tasting is really just part of the retail experience. The analogy I use is you wouldn’t buy a pair of pants without trying them on.”

Mainly clear and sunny skies are expected for the Okanagan-Shuswap region this week. (Maxpixels photo)
Warm, sunny week ahead in Okanagan-Shuswap

Daytime highs will reach the low 20s with mainly clear skies this week

File photo
Trip for cigarettes costs Princeton man $500 and a lecture

You’ve got to start obeying the rules of the road, says judge

Burnaby MLA Raj Chouhan presides as Speaker of the B.C. legislature, which opened it spring session April 12 with a speech from the throne. THE CANADIAN PRESS
B.C. NDP promises more health care spending, business support in 2021 budget

John Horgan government to ‘carefully return to balanced budgets’

A five-storey, 60-unit building has been proposed for 8709 Jubilee Rd. E., Summerland. The proposal will be the subject of a public hearing on March 22. (Image by GTA Architecture)
Zoning, OCP amendments adopted for Summerland housing development

Additional variances will be needed for controversial five-storey, 60-unit housing development

Guinevere, lovingly referred to by Jackee Sullivan and her family as Gwenny, is in need of a gynecological surgery. The family is raising money to help offset the cost of the procedure. (Jackee Sullivan/Special to Langley Advance Times)
Langley lizard’s owners raise funds for gynecological surgery

The young reptile is scheduled for operation on Tuesday

Facebook screenshot of the sea lion on Holberg Road. (Greg Clarke Facebook video)
VIDEO: Sea lion randomly spotted on remote B.C. logging road

Greg Clarke was driving home on the Holberg Road April 12, when he saw a large sea lion.

Defence counsel for the accused entered two not guilty pleas by phone to Grand Forks Provincial Court Tuesday, Jan. 12. File photo
B.C. seafood company owner fined $25K for eating receipt, obstructing DFO inspection

Richmond company Tenshi Seafood is facing $75,000 in fines as decided March 4 by a provincial court judge

B.C. Finance Minister Selina Robinson speaks in the B.C. legislature, March 2, 2021. (Hansard TV)
B.C. NDP ministers defend ‘air tax,’ latest COVID-19 business aid

Empty home tax doesn’t apply to businesses, but space above them

Sheila Derbyshire surprised her daughter, Talyn, at Len Wood Middle School in Armstrong April 12, 2021, for her 13th birthday with 13 clowns carrying 13 red balloons. (Sheila Derbyshire - Contributed)
Armstrong mom sends in the clowns

‘Halloween freak’ celebrates daughter’s 13th birthday in style

Lime e-scooters will soon be offered in Kelowna. (Photo: Kris Krug)
E-scooters now allowed on Kelowna roadways under provincial pilot program

‘Rather than a novelty, this change will enable e-scooters to be used for more utilitarian transportation purposes’

Air Canada cancelled service to and from Penticton Jan. 11, 2021. After receving $5.9 billion in federal aid the airline is now set to renew service on the route in June, 2021. (Mark Brett - Western News file)
Air Canada flights set to return to the South Okanagan

Federal aid could have the Vancouver/Penticton route back to pre-pandemic service

Most Read