VANCOUVER, BC, March 17, 2026 /CNW/ - A BC Securities Commission (BCSC) panel has revised a financial sanction imposed on a participant in a market manipulation scheme, to reflect a 2018 revision of sanctions on other participants in the scheme.

The panel changed the original $7.3 million joint and several disgorgement order against Robert Leyk and other respondents to a $1.9 million individual disgorgement order.

The original joint and several disgorgement order was appealed by some of Leyk's co-respondents in that case, but not by Leyk. The B.C. Court of Appeal set aside the disgorgement order and directed the BCSC to reconsider it. The Commission hearing panel subsequently revised the disgorgement orders for the appellants.

Since Leyk did not participate in the appeal, the disgorgement order imposed on him was unaffected by the court decision and the subsequent revision by the BCSC panel. However, in 2019, the panel issued a stay of Leyk's disgorgement order until either he or the BCSC's Executive Director made an application to lift the stay or to revise or revoke the order.

Leyk entered bankruptcy proceedings in Alberta in January 2025. The BCSC intends to file a proof of claim for the disgorgement order in those proceedings, but needed to establish the appropriate amount ($1.9 million) before doing so.

The BCSC Executive Director applied to the panel in July 2025 to lift the stay and revise the order. Leyk did not provide evidence or submissions in response.

About the BC Securities Commission (www.bcsc.bc.ca)

The BC Securities Commission, an independent provincial government agency, strives to make the investment market benefit the public. We set rules, monitor compliance by industry, take action against misconduct, and provide guidance to investors and industry. As guardians of B.C.'s investment market, we're committed to maintaining a market that is honest, fair, competitive and dynamic, enabling British Columbians to thrive.

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SOURCE British Columbia Securities Commission