The British Columbia Securities Commission published a settlement with Jean Andre Lamarche under which he agreed that he was in the business of trading and advising in securities without being registered. The settlement requires Lamarche to pay CAD 46,732 and bars him from participating in British Columbia's investment market for 11 years. The misconduct ran from Jan. 5, 2016 to March 5, 2020, when Lamarche provided financial planning and related services to certain clients. In that context, he bought and sold securities in some clients' online brokerage accounts, exercised discretion over some trades and gave investment recommendations, despite not being registered at the time. Of the total payment, CAD 21,732 represents funds obtained through the misconduct and CAD 25,000 is an additional payment under the settlement. The 11-year prohibitions cover acting as a registrant, engaging in promotional activities, serving in any management role and trading securities, except in his own account through a registered representative. As part of the settlement, he also withdrew applications in the underlying proceeding, including constitutional challenges, and discontinued a related civil action against the commission. The commission said people may make a claim to the CAD 21,732 after it publishes further notice of a claims process.

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