Background Hunter "Wei-Shun" Wang coached an investor to lie to an investigator from the British Columbia Securities Commission (BCSC). The BCSC found that Wang violated section 57.5 of the Securities Act, R.S.B.C. 1996, c. 418, which prohibits obstruction of justice. Wang challenged the BCSC's decisions on liability and sanctions.

Legal Arguments/Issues Wang argued that section 57.5 applied only to formal investigations, not informal ones. However, the court found that "investigation" included informal inquiries by the Commission. Additionally, Wang contended that his actions occurred after the investigation started, thus not violating section 57.5. The court determined that section 57.5 applies to conduct aimed at obstructing an investigation, whether before or after its commencement.

Court Decision The Court of Appeal allowed Wang's appeal in part, agreeing that his conduct did not violate section 57.5 as interpreted. The case was remitted to the Commission to address the remaining allegations against Wang.

Sanctions The original sanctions included a two-year market ban and an administrative penalty of $30,000. The total costs awarded in favor of the successful party were not specified in the provided document. The appeal resulted in remanding the matter to the Commission for further determination.