The B.C. Securities Commission announced Wednesday that it has reached a settlement with a broker who sold unsuitable securities, including interests in a cattle ranch resort, to investors in Northern B.C.

Under the settlement, James Fortin will pay the commission $10,000 and is barred from the securities markets for seven years.

Under the ban, Fortin cannot trade securities and is prohibited from engaging in investor relations activities and from being a director or officer of any issuer.

Fortin worked as a broker for IDF Financial Services Incorporated based in Prince George, B.C. He sold over $800,000 of securities, including interests in River Ranch Resort Corp. (a cattle ranch resort under development south of Vanderhoof), to mostly Northern B.C. investors. He admitted that he failed to advise some clients that these securities were not suitable for their investment needs and objectives.

Fortin was among those named in a temporary order and notice of hearing issued in 2001. In August 2001, seven brokers who worked for IDF settled with the commission on this matter.

At that time, as part of their settlements, they made payments and agreed to be subject to strict supervision if they seek registration to sell securities in B.C. again. They were also barred for varying periods from relying on certain exemptions to sell securities and from engaging in investor relations activities.