Ontario Securities Commission
Citation: Andrea Lee McCarthy et al., 2014 ONSEC 1
Date: 2014-01-03
IN THE MATTER OF THE SECURITIES ACT, R.S.O. 1990, c. S.5 AS AMENDED
- AND -
IN THE MATTER OF ANDREA LEE MCCARTHY, BFM INDUSTRIES INC., and LIQUID GOLD INTERNATIONAL CORP. (aka LIQUID GOLD INTERNATIONAL INC.)
REASONS AND DECISION
(Section 127 of the Securities Act)
Hearing: October 28, 2013; December 10, 2013
Decision: January 3, 2014
Panel: James D. Carnwath, Q.C. - Commissioner and Chair of the Panel
Appearances: Jonathon Feasby, Cameron Watson - For Staff of the Commission Naomi Lutes - For Andrea Lee McCarthy No one appeared for BFM Industries Inc. or Liquid Gold International Corp. (aka Liquid Gold International Inc.)
TABLE OF CONTENTS
I. OVERVIEW A. Introduction B. The Respondents (i) McCarthy (ii) BFM (iii) Liquid Gold II. ISSUES III. ANALYSIS A. Subsections 25(1)(a) and 25(1) of the Act B. Subsection 53(1) of the Act C. Subsection 126.1(b) of the Act (i) BFM (ii) Liquid Gold (iii) Mens Rea of Fraud D. Section 129.2 of the Act IV. CONCLUSION
REASONS AND DECISION
I. OVERVIEW
A. Introduction
1This was a hearing before the Ontario Securities Commission (the "Commission") pursuant to section 127 of