Former North Vancouver investment advisor fined $5,750 for violating securities ban
Marcel Anil Rada, 60, pleaded guilty to acting as an officer or director of a company despite a permanent ban imposed by the B.C. Securities Commission in 2017.
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A former North Vancouver investment advisor has been fined $5,750 after pleading guilty to violating a permanent securities ban, a case highlighting years of regulatory non-compliance.
Marcel Anil Rada, 60, was handed the fine Wednesday in North Vancouver provincial court. He had pleaded guilty in April to failing to comply with an order under B.C.'s Securities Act. Between 2017 and 2025, Rada acted as a director or officer of a company despite being permanently banned by a B.C. Securities Commission panel in 2017.
The ban originated from a 2011 decision by the Investment Industry Regulatory Organization of Canada, which found that Rada had solicited and obtained $205,000 from individuals for investment purposes without disclosing that more than $175,000 would be paid directly to him. He also admitted to facilitating off-book transactions without employer knowledge or consent, and refused to produce bank records or attend interviews with securities staff.
Rada agreed to pay a $75,000 fine and $10,000 in costs for those 2011 breaches, but according to provincial Crown counsel Tony Chang, Rada never paid those amounts. An agreed statement of facts acknowledged there were no investor losses from Rada's actions. "The main message to be sent here is the authority of the commission is enforced and a breach of its orders will attract meaningful sentences," Chang said.
At a glance
What was Rada banned from doing?
The B.C. Securities Commission permanently banned Rada in 2017 from acting as a director or officer of a company. Between 2017 and 2025, Rada violated this ban by serving in those roles anyway.
Why was the original ban imposed?
A 2011 decision by the Investment Industry Regulatory Organization of Canada found that Rada had solicited $205,000 from individuals for investment purposes without disclosing that more than $175,000 would go directly to him. Rada also facilitated off-book transactions without employer knowledge and refused to produce bank records or attend interviews with securities staff.
