In McCabe v. British Columbia (Securities Commission), 2016 BCCA 7, the B.C. Court of Appeal upheld the ability of the B.C. Securities Commission (the “Commission”) to penalize a resident of British Columbia for publishing misrepresentations about an American company in the United States. This case confirms the Court’s expansive approach to the Commission’s extraterritorial jurisdiction.
Mr. McCabe is a British Columbia resident who published a monthly stock report through a company he controlled. Guinness Exploration Inc. (“Guinness”) is a company incorporated in Nevada. Its shares are quoted on the Over-the-Counter Bulletin Board in … Continue Reading