RE:RE:RE:Director Gloating AgainAnd here is my message to her that prompted an actual phone call. It got me nowhere, but I did get my point across. Reminder. This was three years ago. This was not my first time reaching out to the BCSC about FNC and this was NOT the only company I had raised concerns about. But same result. Nothing done about it and here we are right where I left off. UGHH!
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This, we can’t or won’t get involved response I find very frustrating. I’m just an investor expecting the securities regulators to protect investors, ensure capital markets are fair and transparent and get involved, not look for excuses to not get involved. I’ve complained about this issuer before, other issuers before, and I’m sure many other investors have done the same. Others have complained for years about this issuer. Others have complained about the same issues with many issuers. Why haven’t you developed the necessary framework that you can’t , won’t, don’t pass the buck at every opportunity but instead take charge.
Like this
"The British Columbia Securities Commission (BCSC) strives to make the investment markets benefit the public – enabling people to achieve their financial goals, enterprises to grow, and British Columbia to thrive.
Through smart rules, diligent oversight, strong enforcement and reliable guidance, we act as guardians of the province’s investment marketplace, striving to make BC a place where people can invest with confidence and companies can flourish."
It’s from your website FYI . The website doesn’t say we won’t do any of this and will instead complicitly allow the opposite to occur if we can blame the problem on another branch of government or another regulator or another law or just throw up our arms, sigh, roll our eyes, and explain there is nothing we actually do that even vaguely resembles our website claims.
How about this one?
"The British Columbia Securities Commission’s mission is to protect and promote the public interest by fostering a securities market that is fair and warrants public confidence, and a dynamic and competitive securities industry that provides investment opportunities and access to capital."
Nope. Not even close. It should read protect issuers from the light of day review of their actions or inactions without regard for the impact on the public interest, or confidence in the cozy securities industry and the issuers.
How about
Our Vision
To play a leading role in securities regulation that inspires investor confidence and supports fair, efficient, and innovative Canadian capital markets.
Nope playing any role other than enabler is invisible to me.
And finally
Our Values
Our values of integrity, accountability, and service guide our commitment to appropriate, effective, and flexible regulation. This commitment allows us to keep pace with quickly evolving capital market changes.
“Not me” doesn’t appear here , there is zero benefit for the public or protection of investors or capital markets with “integrity” in passing the buck, hiding from responsibility, or dismissing investor concerns under the cloak and misbegotten excuse of “privacy” . Privacy does not protect investors. It protects registrants, issuers, their lawyers, and their regulators .
I could continue, but it regrettably has historically consistently fallen upon stolid, apathetic desks to ask for assistance,complain,make suggestions, or point out shortcomings.