The B.C. Securities Commission has banned a former securities dealer director from management roles with dealers for failing to properly supervise a former employee who sold unsuitable securities to clients.

In a settlement with the commission, Graham Hope, 56, is prohibited from being a compliance officer, branch manager, trading partner, director or officer of any issuer that is a registrant for at least five years. He is also banned from being a director or officer of any issuer that provides management, consulting or administrative services to registrants.

Hope was the sole director of 576928 B.C. Ltd. (formerly known as Moneywatch Consultants Ltd.) when the numbered company was registered as a securities dealer from July 9, 1996 to June 16, 1997. It was during this period that one of the company’s registered representatives, Alain Chevalier, sold securities products that Chevalier later admitted were speculative securities unsuitable for his clients. During this time, Hope was registered with the company as a trading partner, director and officer. The commission entered into a settlement with Chevalier in February 2003.

As part of the settlement, Hope has also been ordered to pay the commission $10,000.