A British Columbia Securities Commission (BCSC) panel has extended a temporary order for three British Columbia residents and several related international companies to one year to stop promoting an investment product called "MetaCertificates."。

For Vancouver residents Haidy Nitsa Nakos, Maple Ridge residents Tanya Sue Cloete and James Bruce Gardiner, GSB Gold Standard Bank Ltd.(operating GSPartners), GSB Gold Standard Bank Ltd.(operating GSPartners), GSB Gold Standard Bank Ltd.(Operating Gold Standard Bank Ltd.(They are prohibited from engaging in promotional activities or on behalf of GSPartners)。

The command also prohibits:

• prohibit Nakos, Cloete, Gardiner and GSPartners and their related entities from disseminating or authorizing the dissemination to the public of any information or records relating to GSPartners securities;
• No person may buy or sell securities of GSPartners。

GSB Gold Standard Bank Ltd.Claimed to be a company registered in the East African country Union of Comoros。Swiss Valorem Bank Ltd.Claims on its website to have a private banking license in Kazakhstan。GSB Gold Standard Corporation AG incorporated in Germany。

The evidence presented to the hearing panel showed that MetaCertificates and other investment products were marketed through a multi-level marketing network that offered commissions to marketers who introduced others to buy products.。Nakos, Cloete and Gardiner are promoters of MetaCertificates, with Cloete and Gardiner hosting a GSPartners event at a downtown Vancouver hotel in April 2023.。

A large number of British Columbia investors have already bought MetaCertificates, with investors expecting a weekly return of 2.5% to 4%, while investment products added to MetaCertificates can have quarterly returns of 18% or more。

BCSC's investigation is ongoing and its executive directors are not yet ready to issue a notice of hearing - that is, a statement on allegations of misconduct.。The Executive Director requested the extension to "send a clear signal to investors to stop investing in GSPartners MetaCertificates"。

The BCSC executive director issued the interim order for individuals and entities on November 16, which expires on December 1.。The panel granted the extension - a one-year extension or until a hearing is held and a ruling is made, and will provide reasons at a later date.。