The British Columbia Securities Commission has disciplined an investment advisor and his firm for not complying with business requirements.

Adrian Mastracci and KCM Wealth Management Inc. have reached a settlement with the BCSC. Mastracci agreed to pay $5,000 to the BCSC. The BCSC reprimanded KCM Wealth Management.

Mastracci is the principal of KCM Wealth Management. In 2002 and 2003, KCM contravened securities legislation when the firm did not:

  • keep proper business records;
  • have the required capital;
  • file annual audited financial statements, and
  • subordinate Mastracci’s loan to claims of clients and creditors.