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Vancouver, British Columbia, January 31, 2023 /CNW/ – A BC Marketing Firm And Its CEO Repeatedly Violated securities law A panel of the BC Securities Commission (BCSC) has ruled for failing to properly disclose the distribution of paid promotional materials on behalf of five issuers.
The panel also said that one of their publishers, a virtual reality production company called ImagineAR, activity Failure to provide a clear and conspicuous disclosure that promotional materials were issued on its behalf.
This is because the BCSC Panel’s decision activity Clear and conspicuous disclosure of promotional materials used in IR activities.
From 2016 to 2018, Stock Social published articles and social media posts about publishers involved in mining, technology, and cannabidiol (CBD) products.
Spread across newswires, websites and social media, these stories were written mostly like news stories, but the risks and other negatives about the issuer that one would expect from objective coverage were not disclosed. It wasn’t. None of the articles revealed that they were distributed on behalf of the publisher, and some indicated that a fee had been paid for distribution, but did not mention on whose behalf they were distributed. . If the disclaimer appeared, it was not placed in a prominent place that readers would easily notice.
of securities law All persons engaged in investor relations activities or acting on behalf of an issuer or security holder must be clearly and conspicuously disclosed when promotional materials are issued. Such disclosures allow the public to decide how much weight to give to content and make more informed investment decisions.
Panel decides Stock Social’s CEO, Kyle Alexander Johnstonalso violated activity By acknowledging, permitting, or condoning any violation of Stock Social, activity.
The Panel instructed the parties to submit their sanctions.
BCSC has settled with other issuers involved in Stock Social’s investor relations efforts.
About the BC Securities Commission (www.bcsc.bc.ca)
The BC Securities Commission is an independent state government agency responsible for regulating the state’s capital markets. british columbia through the management of securities lawOur mission is to protect and advance the public interest by promoting:
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A fair and trustworthy securities market
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A dynamic and competitive securities industry offering investment opportunities and access to capital
Learn how to protect yourself and become a more informed investor. www.investright.org
Source British Columbia Securities Commission
View original content: http://www.newswire.ca/en/releases/archive/January2023/31/c0419.html
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