The Nova Scotia Securities Commission issued its decision against Stratus and representatives Magnus Torgerson, John Westbrook, Mark Stone and Teddy Stone. Stratus and its representatives violated securities laws by facilitating the purchase or sale of investments without being registered with the commission and by engaging in unfair practice while trying to illegally solicit investments. The commission’s decision orders administrative penalties against: Stratus for $50,000 Mr. Torgerson for $40,000 Mr. Westbrook for $25,000 Mr. Mark Stone for $25,000 Mr. Teddy Stone for $25,000 The company and its representatives are also ordered to pay costs in connection with the commission proceedings of $3,000 “It is important to demonstrate to Stratus, Torgerson, Westbrook, Stone and Stone and others the consequences of their inappropriate conduct. It is also extremely important to deter this type of conduct by others in the future,” said the commission in its decision. The commission urges Nova Scotians to use caution when dealing with firms and people that are not registered in Nova Scotia. It is illegal to solicit investments in Nova Scotia without registering with the commission and complying with Nova Scotia securities laws. To see if a company or person is registered, you can check the Canadian Securities Administrators’ website at http://aretheyregistered.ca/ . The Nova Scotia Securities Commission is the provincial government agency responsible for regulating the investment industry in the province. The decision can be viewed at http://nssc.novascotia.ca/sites/default/files/docs/Stratus-Offshore-Torgerson-Westbrook-Stone-Decision-Feb-11-2016.pdf.
The committee said Saturday that it investigated five of the 14 charges against Bandaranayake and concluded that she was guilty of three of them. Bandaranayake has denied all the allegations. Hundreds of Sri Lankans have hit the streets to protest against a parliamentary committee that ruled the country’s chief justice is unfit to hold office because of unexplained wealth and misuse of power.Opposition lawmakers, lawyers and rights activists joined the protest in the capital Colombo on Monday, demanding that the government halt an impeachment process against Chief Justice Shirani Bandaranayake. The ruling came after Bandaranayake and four opposition party members, who were part of the committee, walked out of the hearing, saying they had no faith in the fairness of the process. (AP)