The B.C. Securities Commission is taking a B.C. stockbroker to a hearing for allegedly lying about completing $2M worth of illicit transactions<\/p>\n
A licensed exempt market stockbroker lied to an investigator under oath about dealing nearly $2 million worth of shares contrary to her firm\u2019s halt order, the B.C. Securities Commission has alleged in a June 17 hearing notice.<\/p>\n
Zhuo Ying Liu, also known as Charlene Liu, \u201cmade materially false or misleading statements to a Commission investigator during a compelled interview,\u201d the commission stated.<\/p>\n
According to the notice, the alleged transgressions began in 2020, or one year after Liu became registered as a dealing representative at an exempt market dealer\u2014a brokerage firm that is permitted to trade private securities to accredited investors.<\/p>\n
At issue is how Liu\u2019s brokerage firm halted trading in a company\u2019s shares due to the company’s failure to provide the firm with documentation.<\/p>\n
Despite those instructions, Liu continued to solicit investments in the company until October 2022.<\/p>\n
The commission launched an investigation into the company’s transactions in\u00a0December 2022, although at that point Liu was not a subject of it, the notice stated.<\/p>\n
Liu attended a\u00a0compelled interview with investigators on May 23 and May 24, 2024, claiming she did not sell $1.97 million of the company shares to 13 investors, with the commission\u2019s notice outlining specific amounts and dates.<\/p>\n
Liu faces a panel of commissioners independent of the commission on July 21 to face the unproven administrative charges under the B.C. Securities Act.<\/p>\n
A website for Rethink and Diversity Securities currently shows Liu listed as a \u201cprivate market specialist.\u201d<\/p>\n
Business in Vancouver offered Liu an opportunity to comment on the notice but did not receive a response by the time of\u00a0publication.<\/p>\n