A British Columbia-based stock market tipster has been fined $4.3 million by the province’s regulators for enhancing the reputation of a number of stocks in return for payment.
A British Columbia-based stock market tipster has been fined $4.3 million by the province’s regulators for enhancing the reputation of a number of stocks in return for payment. Colin McCabe was accused of receiving US $5 million for recommending stocks of three firms to his newsletter readers without disclosing the payments or, the regulator said, appearing to do any real research or fact-checking. As well as the fines McCabe has been banned from writing or engaging in investor relations activities.
