The British Columbia Securities Commission has settled with an Ontario-based investment firm that agreed to pay $5,500 in fines and fees for advising clients without being registered.

CastleMoore Inc, an investment counsel and portfolio manager registered in Ontario, admitted in a settlement agreement with the BCSC that it provided investment advice to three B.C. clients without registration under the Securities Act from June 2006 to July 15, 2008.

Under the settlement agreement, CastleMoore agreed to pay a $2,000 fine and $3,500 for registration fees that otherwise would have been payable to the BCSC if the firm had been registered.

IE