The British Columbia Securities Commission (BCSC) has extended its GSPartners ban for “up to one year”.

The ban also specifically applies to GSPartners promoters Haidy Nitsa Nakos (Vancouver), Tanya Sue Cloete and James Bruce Gardiner (Maple Ridge).

As per BCSC’s November 30th press-release;

A B.C. Securities Commission (BCSC) panel has extended a temporary order for up to one year against three B.C. residents and several related internationally-based companies to stop the promotion of an investment product called “MetaCertificates.”

The extended temporary order against Vancouver resident Haidy Nitsa Nakos, Maple Ridge residents Tanya Sue Cloete and James Bruce Gardiner, GSB Gold Standard Bank Ltd. (doing business as GSPartners), GSB Gold Standard Corporation AG and Swiss Valorem Bank Ltd. prohibits them from engaging in promotional activities by or on behalf of GSPartners.

And just so there was absolutely no confusion over what the order pertains to;

The order also prohibits:

-Nakos, Cloete, Gardiner and GSPartners and its related entities from disseminating to the public, or authorizing the dissemination to the public, any information or record relating to securities of GSPartners, and

-Any persons from trading the securities of GSPartners.

“In this case, the integrity of the markets will be harmed and there will be a significant loss of public confidence in the system if the Respondents are allowed to continue to perpetuate this scheme,” the Executive Director said in the application for a temporary order extension.

BCSC’s investigation into GSPartners is ongoing, and will eventually lead to a statement of allegations of misconduct.

In the meantime, BCSC’s Executive Director said the ban is to “clearly signal to investors to stop investing in GSPartners MetaCertificates.”