VANCOUVER, June 21, 2012 /CNW/ - A British Columbia Securities Commission panel has permanently banned a former investment advisor from B.C.'s capital markets based on a July 26, 2010 decision of the Investment Industry Regulatory Organization of Canada (IIROC).
In its decision, the panel relied on the IIROC hearing panel's finding that Dirk Christian Lohrisch, a Vancouver resident, breached IIROC's dealer member rules when he:
- submitted a registration form to IIROC that was misleading about his credentials,
- submitted a forged a transcript to IIROC, and
- attempted to obstruct IIROC staff's investigation into his conduct.
The IIROC panel imposed a permanent ban on Lohrisch from approval in any capacity, fined him $40,000 and ordered him to pay costs of $27,000.
The panel found that Lohrisch's conduct was contrary to the public interest and warranted orders broader than those able to be imposed by IIROC. The panel said, "not only has Lohrisch followed a path of dishonesty, he shows no remorse".
For his misconduct, Lohrisch is permanently prohibited, with limited exceptions, from purchasing securities or exchange contracts and acting as a director or officer of any issuer or registrant.
Lohrisch is also permanently banned from becoming or acting as a registrant, investment fund manager, or promoter, from acting in a management or consultative capacity in connection with the securities market, and from engaging in investor relations activities.
The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province. You may view the decision on our website, www.bcsc.bc.ca, by typing Dirk Christian Lohrisch or 2012 BCSECCOM 237 in the search box. Information regarding disciplinary proceedings can be found in the Enforcement section of the BCSC website.
Please visit the Canadian Securities Administrators' Disciplined Persons List for information relating to persons disciplined by provincial securities regulators, the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association (MFDA).
Learn how to protect yourself and become a more informed investor at www.investright.org