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Reciprocal order granted imposing market prohibitions based on a BCSC decision for illegal distribution.
Staff of the Ontario Securities Commission applied for a reciprocal order against Lance Sandford Cook and CBM Canada’s Best Mortgage Corp. based on a decision of the British Columbia Securities Commission.
The BCSC had found that the respondents distributed securities without a prospectus and imposed market prohibitions and monetary sanctions.
The Commission granted the application and issued a reciprocal order imposing market prohibitions on the respondents to protect Ontario investors and deter similar conduct.
