Is the BCSC’s Pension Fund part of a huge tax cheat scandal known as the Paradise Papers?
Should this come to no surprise to anyone?   As we blogged in this post on September 18, 2017, the British Columbia Securities Commission regulates the very same companies that are under the umbrella of the B.C. Investment Management Corporation (“bcIMC”)  – the BC public sector pension fund.  As you can see we questioned how they can ethically keep things above board when they regulate companies that essentially affect their bottom line and pays millions of dollars out to BCSC staff members.  We went on to point out a couple of entities that the BCSC “regulated” after wrongdoing.    But now, can we add the title “ALLEGED TAX CHEAT” to the ongoing saga around the public sector in British Columbia?
According to The Breaker.news website, “British Columbia’s public sector pension investor is listed in the Paradise Papers, the database of offshore investments leaked to a German newspaper and published by the International Consortium of Investigative Journalists.  B.C. Investment Management Corporation, which goes by the brand bcIMC, reported $135.5 billion in assets under management for the year ended March 31, 2017.bcIMC and several related companies are in the database, including a bcIMC company registered in Bermuda at the tax haven’s now famous Appleby law firm.”



         See Source below for the full story,
Should We Be Shocked BCSC's Pension Fund is Listed in The Panama Papers?

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More to come..

 

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