The B.C. Securities Commission is seeking to ban a Bahamian investment dealer that has been trading shares of TSX Venture Exchange companies for questionable B.C. clients through a Vancouver brokerage firm.
In a notice of hearing released Wednesday, the commission alleged that, during the 12 months ending June 30, Gibraltar Global Securities Inc. traded $14.2 million worth of TSXV shares through accounts that the firm maintains at a Vancouver brokerage firm.
Neither the TSXV companies nor the Vancouver brokerage firm is identified in the notice of hearing.
Gibraltar, based in Nassau, provides offshore securities brokerage, investment management and advisory services. It solicits clients through its website and says they can trade through its website, and their account information will be kept in the strictest confidence under Bahamian law.
