A British Columbia Securities Commission panel has revised a disgorgement sanction against Robert Leyk in a market manipulation case, aligning his outcome with a 2018 revision of sanctions for other participants. The panel replaced the original CAD 7.3 million joint and several disgorgement order with a CAD 1.9 million individual disgorgement order. The original disgorgement order was appealed by some co-respondents, leading the British Columbia Court of Appeal to set it aside and direct the Commission to reconsider it, after which the hearing panel revised the orders for the appellants. Leyk did not participate in the appeal, and his disgorgement order remained in place but was stayed in 2019 pending an application to lift the stay or revise or revoke the order. Following Leyk’s entry into bankruptcy proceedings in Alberta in January 2025, the Executive Director applied in July 2025 to lift the stay and revise the amount, and Leyk provided no evidence or submissions in response; the Commission intends to file a proof of claim for the disgorgement order in the bankruptcy proceedings.
British Columbia Securities Commission 2026-03-17
British Columbia Securities Commission revises market manipulation disgorgement order against Robert Leyk to CAD 1.9 million
The British Columbia Securities Commission panel revised a disgorgement sanction against Robert Leyk in a market manipulation case, reducing it from CAD 7.3 million to CAD 1.9 million. This adjustment aligns Leyk's sanction with a 2018 revision for other participants. The Commission plans to file a proof of claim for the revised amount in Leyk's bankruptcy proceedings.