BCFSA issued a $1,000 penalty notice when a brokerage's mandatory Accountant's Report arrived more than five months after its 120 day filing deadline. Filing eventually didn't eliminate the Rule 75 breach, making timely annual reporting a distinct compliance obligation.
Case card
Applicant 39 (Re), 2025 BCSRE 144
Source reviewed · Court holding
Held. BCFSA issued a $1,000 penalty notice when a brokerage's mandatory Accountant's Report arrived more than five months after its 120 day filing deadline.
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