British Columbia Securities Commission settles unregistered trading case with B.C. resident and company for CAD 120,000

The British Columbia Securities Commission (BCSC) announced that a B.C. resident, Anish Sunderji, and his company, First Globe Capital International Inc., have jointly paid CAD 120,000 to settle allegations of unregistered activity involving referrals of investors to purchase shares. First Globe provided outreach and investor meeting services to issuer clients in British Columbia and Ontario and, between 2019 and 2020, received CAD 211,384 in finder’s fees for referring investors to six listed companies. The referred investors purchased CAD 4,657,794 of shares through private placements. Under the settlement agreement, First Globe admitted it was in the business of trading in securities without the required registration under British Columbia’s Securities Act, and Sunderji admitted he authorized or permitted the misconduct. The BCSC noted there was no history of securities misconduct for either party and found no evidence investors lost money on the investments.