BCSC alleges that B.C. company and sole director failed to produce required records

VANCOUVER, BC, Sept. 20, 2024 /CNW/ - The B.C. Securities Commission (BCSC) is alleging that a B.C. company and its sole director failed to comply with an order to produce corporate records.

In June 2024, a BCSC investigator issued to Fact Au Resources Corp. ? which purported to distribute securities under an exemption to the Securities Act ? a demand to produce records.

Peter Kitchen, the director, asked for an extension to comply, then provided a "draft" that did not include bank and financial statements that were demanded. When the BCSC informed him that the records provided were incomplete, he said he would provide the missing documents, but never did.

As the sole director of Fact Au, the BCSC contends that Kitchen authorized, permitted or acquiesced in the company's failure to produce the records.

The BCSC's allegations have not been proven. The Commission requires Fact Au, Kitchen or their counsel to appear at the BCSC's offices on October 22, 2024 if they want to be heard before a hearing is scheduled.

The B.C. Securities Commission, an independent provincial government agency, strives to make the investment market benefit the public. We set rules, monitor compliance by industry, take action against misconduct, and provide guidance to investors and industry. As guardians of B.C.'s investment market, we're committed to maintaining a market that is honest, fair, competitive and dynamic, enabling British Columbians to thrive.

Learn how to protect yourself and become a more informed investor at www.investright.org

SOURCE British Columbia Securities Commission