I believe so. Although there seems to be an independance established between the B.C. government and the British Columbia Securities Commission, the Provincial Government does pay the civil servants of this agency. By paying the officers, it should suggest that the commissioners of the Securities actions are rewarded and condoned by the Provincial Government, placing accountability and responsibility on the Provincial Government, not to mention the Federal Government, eveything is connected. There must be an accountability provision in their articles, or one may be able to say that these agencies are operating illegally and their mandates are contradictory to their actions of protecting investors, as displayed in their mission missive on their site.

Here is their mission and vision;

Our mission

Our mission is to protect and promote the public interest by fostering:

• A securities market that is fair and warrants public confidence
• A dynamic and competitive securities industry that provides investment opportunities and access to capital

Our vision

To play a leading role in securities regulation that inspires investor confidence and supports fair, efficient, and innovative Canadian capital markets

http://www.bcsc.bc.ca/about.asp

Does it seem the above is being applied to our situation? Lets look at some of the tools the commission has available to assist them in their goverance;

Our approach to regulation

We regulate to protect our investors and market integrity. Our legal authority and resources equip us with some powerful regulatory tools. We can:

• impose requirements through rules and other regulatory instruments
• provide guidance
• monitor compliance and demand corrective action
• take enforcement action
• educate market participants and investors

After substantial evidence has been handed to the securities and failure to act, could hold them accountable under the Negligence Act. The fact that $300 million has been erased from our market cap, is no small thing, considering that investors were told that Quantec was working day by day with the company by Lori. Upon the Securities hearing of this misleading statement, and many more, which caused investors to hold onto their shares, and have failed to impose disciplinary action against our CEO as well as the BOD, could hold them legally accountable for all damages incurred. So for the BCSC to not act at present, considering the latest of a 91% vote being thrown away from a biased chair of the AGM, Lori, suggests that they see no problem and may even condone her actions. If this is the way the integrity is upheld in the markets, its a joke and an insult to all Canadians investing in these markets, and could also be classed as misleading statements by the Securities, leading to multiple class action suits. The Government has a huge problem here and I suggest they get their butt in gear and deal with this now. For them to allow companies to perform in this way on the Exchanges suggest that their above tools are useless and are not in the best interests of investors. This problem climbs right up the ladder to our Prime Minister and for an ethics commissioner to say its out of their jurisdiction is proposterous, nothing ever gets done by passing the buck and only holds more departments accountable in the long run.

Lawyers do take these kind of cases up on a continguency basis, and in light of substantial evidence, there should be more than one lawyer willing to take this on, considering the windfall from a win. Also, its good to see more and more judges ruling in favour of these types of plaintiffs globally,lately, which shows that the judges are realizing that current laws have many problems and are against constitutions of many countries.

All in my opinion of course