The B.C. Court of Appeal has issued supplementary reasons for a decision, initially released in September, which penalties levied by the BC Securities Commission against two former First Marathon Securities Ltd. Brokers.

In it’s decision the court decided it did not have the jurisdiction to overturn the BCSC decision, but it opined that the BCSC had levied penalties against Rob Hartvikson and Blayne Johnson which were too severe, since no clients were actually harmed by their behaviour. Consequently, it lowered the $100,000 in penalties to $10,000.

It also expressed the desire that the damage caused by the commission’s ruling to Hartvikson’s reputation would will be “somewhat mitigated” by their ruling.

Today, the Court said that comment applies Johnson as well. “The reasons dealt with the position of Mr. Hartvikson because such submissions came from counsel acting on his behalf. However, the same comments apply equally to the appellant Johnson.”