RE:RE:So when does an outside investigation begin and who does it? To continue my encyclopedic discussion, sad story, history, Tome about the SWISS Gnome .....
Here we have a smaller maybe occasionally well meaning group of granola chomping, tree hugging, whale lovers way,way, out there on the left coast. Far, Far removed from the hustle and bustle and big $$$ of Bay Street, Wall Street, or even St James Street/ Rue Saint Jacques. So to be empathetic, what the heck else should we expect but well paid civil servants counting the days or if they possess any gumption, an exit to a real job in the private sector or get called up to "the show" in Toronto. These frustrating but pleasant, at best, desk divers, and at worst just completely inept and resigned to uselessness folks are not going to help with FNC or any other of their issuers. Other than a "head office" with a lonely CFO, there is nothing in BC. For decades, the CEO, ran the company from Montral where the foundational iron ore properties he did his masters and or doctorate thesis on also reside. Most of the FNC claims of note are in Quebec, with a few in New Brunswick and Ontario. None in BC. The head office at 7290 gray ave, burnaby is a very lovely 3 bed, 2.5 bath, 2373 sq ft home. Last I heard Rajesh was working out of space in or near Montral as well. So, just suppose, some eager beaver at the BCSC wanted to start some sort of investigation. How the heck would that work? And, NO!, this is not an FNC phenomenon, it's most BCSC issuers. Even the VSE has long closed, the venture is 100% toronto.
As a final note, the bcsc jealously guards it's jurisdiction over the bc securities act. BCSA. Which in practice means they will not investigate anything outside the b&w 4 corners of that act like say the bc companies act that deals with things like annual meetings and a company's bylaws. To pursue that you must hire a lawyer and file a complaint with the courts. You could try the finance ministry if you were looking for an even more frustrating experience than the bcsc.