The B.C. government is plugging a loophole in its securities legislation to allow investment industry penalties to be enforced by the regulator in B.C. Supreme Court.

Finance Minister Carole James joined representatives of the Investment Industry Regulatory Organization of Canada () at a Victoria seniorsB次元官网网址� centre Friday to explain the changes James has introduced in the B.C. legislature.

B次元官网网址淢any British Columbians invest their life savings in the securities market,B次元官网网址� James said. B次元官网网址淭hey expect their money will be safe from fraudsters.B次元官网网址�

The industry self-regulator reports that it currently has $4.7 million in unpaid fines against individuals in B.C. dating back to 2008. It conducted 21 investigations of securities sales in 2017, with seven prosecutions completed.

B次元官网网址淪eniors form IIROCB次元官网网址檚 largest source of complaints and represent the highest proportion of victims of misconduct,B次元官网网址� the agency said in a statement. B次元官网网址淎lmost 40 per cent of all cases reviewed and approximately 30 per cent of prosecutions involve seniors.B次元官网网址�

B.C. and Manitoba are moving to join Alberta, Ontario, Quebec and Prince Edward Island in enforcing IIROC penalties in court.