B.C. Securities Commission settles with Lakwindar Singh Janda for failing to file insider reports

INsettlement agreement with the British Columbia Securities Commission (BCSC), Lakhwindar Singh Janda (a.k.a. Lucky Janda) admitted he failed to file insider reports with respect to his trades in shares of Easy Technologies Inc.

The agreement states that Janda, a B.C. resident, was a de facto director of a B.C.-based company called Easy Technologies Inc. Easy is a reporting issuer listed on the Canadian Securities Exchange, the Regulated Unofficial Market of the Frankfurt Stock Exchange, and the U.S. Over the Counter Market. As a de facto director, Janda was an insider of Easy and was therefore required to make insider filings with respect to his trades in shares of Easy.

During the relevant period, Janda made 24 trades in shares of Easy using five different trading accounts at three different brokerage houses. He sold 361,000 shares of Easy for total earnings of $9,670 and bought 100,500 shares of Easy at a total cost of $19,765.

Janda, through his company ONA Capital Ltd., also entered into a share purchase agreement to sell 700,000 shares of Easy to the head of Skill Development LLC. Ultimately, only 160,400 shares of Easy were sold pursuant to the share purchase agreement and ONA received approximately $48,000.

In contravention of the Securities Act, Janda did not file any insider reports with respect to his 24 trades in Easy, or with respect to ONA’s sale of shares under the share purchase agreement.

In respect of settlement of this matter, Janda agreed to pay $15,000 to the BCSC. He was ordered to resign any position he holds as a director or officer of an issuer or registrant, and is also banned for one year from becoming or acting as either of those positions.

Janda has filed insider reports, and paid the applicable late filing fees with respect to his trades in Easy.

You may view the settlement agreement on the website, www.bcsc.bc.ca, by typing Lakhwindar Singh Janda or 2017 BCSECCOM 377 in the search box. Information about disciplinary proceedings can be found in the Enforcement section of the BCSC website.