Vancouver investment dealer Global Securities Corp. has agreed to pay $21,050 to the B.C. Securities Commission for trading a U.S. over-the-counter stock that was subject to a cease trade order.
Monty Gregory Lorne Montaine, a registered salesman for Global, manually entered two sales orders of Brookmount Exploration Inc. for an Alberta client, without checking the National Cease Trade Order Database. Both trades were made after the cease trade order had been issued.
Under the settlement agreement, Global paid $16,050 to the commission. That sum included $1,050 in profit that the company made on the purchase of Brookmount shares. Montaine paid $5,000.