The British Columbia Securities Commission has issued allegations that Dawson Ignatieff and his companies, VHLA Media Inc. and parent Black Swan Solutions Inc., breached investor relations disclosure requirements by not clearly disclosing that certain promotional content for issuers was sponsored. Ignatieff was CEO and a director of both firms, which were compensated for creating and distributing digital investor relations content via a VHLA-branded website, social media platforms and an e-newsletter. Between 2023 and 2024, the companies allegedly shared around 41 promotional videos and advertorials on behalf of 26 issuers without the “clear and conspicuous” disclosure required under British Columbia’s Securities Act. The release describes this standard as requiring a statement that the content is on behalf of the named company, in plain language, placed prominently in prominent font, and designed to catch the reader or viewer’s attention. Despite being cautioned by BCSC staff and knowing the requirements, the companies allegedly continued to distribute further non-compliant promotions in 2024 and 2025, and Ignatieff is alleged to have authorized, permitted or acquiesced in the misconduct. The allegations have not been proven. The respondents or their counsel must appear at the BCSC’s offices on April 7, 2026 if they wish to be heard before a hearing is scheduled.

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