B.C. Securities Commission fines Port Moody man $40,000

The B.C. Securities Commission has imposed a $40,000 administrative penalty on Port Moody resident Brandon Wade Boddy and barred him from most financial-market activity for at least three years.

The commission said Boddy did not provide documents sought by investigators despite receiving numerous extensions. A previous liability decision found that he failed to comply with a document demand and to produce records reasonably required for an investigation, contrary to the provincial Securities Act.

The underlying investigation began in May 2022 and concerned trading in Braxia Scientific Corp. securities, their marketing and promotion, and the accuracy and adequacy of the company's disclosure. Braxia was formerly known as Champignon Brands Inc.

Investigators sought correspondence and records related to consulting work and share acquisitions from August 2019 to June 2020. Boddy allegedly worked as a consultant for Champignon through a numbered company, was a shareholder in companies acquired by Champignon and traded its shares during the period.

The panel said non-compliance with regulatory demands frustrates investigations and can harm investors, even without evidence of direct financial harm. Boddy may not act as a registrant, carry out promotional activities or hold management roles, and may trade only for his own account through a registered representative. The ban lasts three years or until the penalty is paid, whichever is longer. He did not take part in the sanctions hearing.