Conflicts
of Interest and the Sham that is 'Compliance':
How can the Banks own a
stake in the Regulators that are supposed to police them? This is a
clear conflict of interest and no matter how the Securities 'experts'
and lawyers attempt to spin the facts letting the banks own an
interest in the Regulatory regime is akin to letting inmates design
their own prisons. This is why we have so called financial planners
who no longer have to sell products that are in the best interest of
the client and they can do it with regulatory blessing. Its in the
best interest of the banks who keep the market liquid with capital to
ensure securities are sold regardless of their fit for the client,
the bank takes a cut no matter what. The reason the Regulatory regime
goes after small business and private capital is that these pools of
capital threaten banks and the banking industry, compliance in their
words is a 'cost' to be paid, not the operation of a corporation with
integrity working in the interest of shareholders and ownership.
If fair and unbiased
regulation of the markets is continuously costing loss of revenue the 'Regulatory
Corporation', the corporation is going to find new profit centres to
ensure its survival just like any good CEO of a Corporation should.
The problem, making a profit is not the purpose of a regulator!
Ensuring the integrity of the Financial markets is the purpose of a
Financial Regulator.
Many businesses pay the
costs of 'compliance' such as those associated with preparing an
Offering Memorandum and/or a Prospectus so that they can maintain
'compliance' while they raise capital.
The problem is that their
is very little accountability demanded from these businesses after
they have paid the cost of 'compliance'. The current Regulatory
regime has no real interest in where the money goes and whether a
legit businesses is being run, it simply wants its fees for
paperwork.
Simply put we are being
extorted on a national level by the big banks and financial
regulators who attempt to use confusion, fear, and deception to hide
what is truly happening.
The trend in the financial
world of late has been for Governments to let all sorts of Regulators
police themselves in whats termed SRO's, self regulatory
organizations. The problem is that no one is held accountable and
conflicts of interest run deep as many of these organizations also
happen to be self-funded. Our regulators run as businesses who in
current form exist to keep themselves in business rather then do
their job and regulate the markets. Until this changes we will
continue to see fraudulent practices and deception as standard
procedures on behalf of all of these regulatory regimes.
How can a self-funded
regulatory agency act in a fair and unbiased manner when its very
existence may depend its abilities to levy fines for regulatory
'infractions' that its tribunals find have been committed by the
market participants it is mandated with regulating? What would the
natural interests and tendencies of a self-funded and self-regulated
organization be? If one thinks that the tendencies of such an
organization would not be to constantly act in its self-interest to
ensure its continuation one then surely in any other world but this
crazy rock would be percieved as naive. If the governing bodies and
individuals in charge can look us in the eye and tell us with a
straight face that this will not present a conflict of interest and
hinder the duties of a regulatory body tasked with ensuring the
integrity of a Financial market then they are either bold-faced liars
and thieves or complete morons.
Either way they should no
longer carry places of responsibility in Financial governance as they
are unfit to carry out the duties required of office.
The link provided here is regarding the proposed new CSRA which is planned to take over the roles of the BCSC and the OSC in the fall of this year. The problem is that it will simply be the same old charade, however this new monstrosity wants Criminal Enforcement powers so it may imprison people who do not pay the cost of 'Compliance' or refuse to toe the line. The entire regulatory regime in Canada is a sham and a charade and now these criminals want the power to silence those who tell the truth with imprisonment. This link should give some insight into the future that will be our regulatory regime if we do not act now to ensure change, the type of change that will eliminate or vastly reduce the conflict of interest that arises when Financial Securities Regulators become Corporations.
The following information was taken from the BC Securities Commission Service plan for 2017 and beyond, it outlines a few more details
about the planned collapse of the BCSC and the new Canadian Securities Regulatory Authority (CSRA) or the CMRA as Brenda Leong refers to it. The colour of the lipstick don't matter, a pig is still a pig.
See the exerts from the Service Plan with the final one containing details about the planned collapse of the BCSC in the fall of this year.
Accountability statement regarding the Service Plan from BCSC CEO Brenda Leong,
Supposedly the BCSC has ethics and integrity, here the Taxpayers Accountabilities Principles are referenced.
See what the Taxpayers Accountability Principles have to say about ethics and accountability
See what the former Head of the Criminal Enforcement Division Ms. Teresa Mitchell-Banks had to say about things like accountability and ethics when questioned why the BCSC withheld hearings transcripts from us in dealing with our case where all we ever did was tell the truth.
Does that sound like accountability and integrity? Interestingly enough the former Crown star prosecutor in the trial of one of BC's most notorious gangsters, one of Bacon brothers was dismissed from the BC Securities Commission some time ago without the BCSC giving the public a reason as to why the number three in charge who is responsible for the Criminal Division would abruptly leave the BCSC.
Insider sources confirmed our suspicions, she was fired for her criminal actions in more then one case. Will Ms. Brenda Leong take responsibility for the actions of her employees or will she simply try to hide behind a new regime? See from the horses mouth the plan to dismantle the BCSC this year. See the bottom under Financial Outlook..
As always more to come..
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