The Executive Director of the British Columbia Securities Commission has imposed a CAD 50,000 administrative penalty on Ahmad Doroudian, CEO and a director of BetterLife Pharma Inc., for failing to file timely insider reports of his trading activity. Doroudian conducted 624 public market transactions involving more than 5 million shares with a total reported value of CAD 986,398. As a reporting insider under national securities rules, he was required to report trades on the System for Electronic Disclosure by Insiders (SEDI) within five days, but did not do so. The release also notes that since 2011 the BCSC issued 15 invoices for late-filed insider reports and Doroudian has not paid CAD 23,050 in associated late fees. The penalty followed a 30-day period during which Doroudian could request an opportunity to be heard.
British Columbia Securities Commission 2025-05-21
British Columbia Securities Commission imposes CAD 50000 penalty on BetterLife Pharma CEO for late insider trade reporting
The British Columbia Securities Commission imposed a CAD 50,000 penalty on Ahmad Doroudian, CEO of BetterLife Pharma Inc., for failing to file timely insider trading reports. Doroudian executed 624 transactions involving over 5 million shares, violating the five-day reporting requirement on the System for Electronic Disclosure by Insiders. Additionally, he has unpaid late fees totaling CAD 23,050 from previous infractions.