For the second time in 57 days, a British Columbia Securities Commission panel has ruled not to ban offshore investment firm Lines Overseas Management from the local market. In a decision on March 4, 2005, the panel determined that, although it was still concerned about LOM's activities, its staff had not met their burden of providing sufficient evidence to justify an order prohibiting LOM, affiliated firms and its senior officers from trading on behalf of undisclosed beneficial owners. However, the panel left open a window of opportunity for its staff by concluding that: "If the Executive Director wishes to pursue the matter, the necessary evidence should be gathered and a notice of hearing issued."
Articles Bahamas Bermuda Canada Cayman Islands Featured InvestmentMarch 8, 2005
BCSC finds no evidence for cease-trade order against Lines Overseas Management
18 years ago
TopicsBahamas Bermuda Canada Cayman Islands Investment
KeywordsBrian Lines David McNay Donald Lines Lines Overseas Management Malcolm Moseley