Case summary
On July 11, 2025, the Washington State Department of Financial Institutions Division of Securities entered a Statement of Charges (S-25-3951-25-SC01) against Pacific Rim Energy Inc. Stephen B. McKanna.
Order details
Order File: S-25-3951-25-SC01
Laws & Rules: RCW 21.20.140, RCW 21.20.040, RCW 21.20.010
Penalties/Remedies:
- $40,000 fines
- $3000 costs
- Denial of Registration
Allegations
- The offer and/or sale of PRE shares constitutes the offer and/or sale of a security.
- PRE and McKanna each violated the securities registration section of the Securities Act of Washington by offering and selling unlicensed securities.
- McKanna violated the licensee registration section of the Securities Act of Washington, by offering and selling PRE shares while not being registered as a securities salesperson or broker-dealer in the state of Washington.
- PRE and McKanna each violated the anti-fraud section of the Securities Act of Washington, by making untrue statements of material fact or omitting to state material facts necessary to make the statements made, in light of the circumstances in which they were made, not misleading.
The Respondent has a right to request a hearing on the Statement of Charges.