2:46 pm - Monday, July 23 2018
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Settlement Agreement Approved for Hibbert

The Nova Scotia Securities Commission has approved a settlement agreement with Lyndon Horach Hibbert and HWL Healthy Wealthy Living Inc.

The respondents violated Nova Scotia securities laws by trading in securities in Nova Scotia without being registered and without a receipt for a preliminary prospectus or prospectus by the commission.

Mr. Hibbert and his company accepted responsibility for their conduct and were co-operative with commission staff.

“If people or companies are looking to raise capital from Nova Scotians, they must comply with Nova Scotia securities laws,” said Heidi Schedler, enforcement counsel for the Nova Scotia Securities Commission. “The registration requirements, in particular, exist to provide Nova Scotians with the tools necessary to make informed investment decisions. Unless a company is relying on a specific exemption to raise capital, it is illegal for anyone to solicit or trade investments anywhere in Canada without being registered.”]

The commission approved the settlement agreement and ordered Mr. Hibbert and his company to:
— comply with Nova Scotia securities laws
— be prohibited from using any exemptions in Nova Scotia securities laws for 15 years
— be prohibited from becoming, or acting as, a director or officer of any issuer, registrant or investment fund manager permanently
— be prohibited from becoming or acting as a registrant, investment fund manager or promoter permanently
— be reprimanded
— pay an administrative penalty of $20,000
— pay costs in connection with the commission proceedings of $1,000

The Nova Scotia Securities Commission is the provincial government agency responsible for regulating trading in securities in the province. To view the order visit www.nssc.gov.ns.ca/whats-new/ .

Source: Release

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