¶ 1 This is a hearing under sections 161(1) and 162 of the Securities Act, RSBC 1996, c. 418. This decision should be read with our Findings made on May 11, 2007 (2007 BCSECCOM 257).

 

¶ 2 Edward Bernard Johnson was a registered representative for a brokerage account in the name of a Robert Taylor. Johnson knowingly accepted trading instructions, without proper authorization, from a third party for at least 400 of 450 trades in the Taylor account in a period spanning more than four years. The third party was Stanley Steven Ross, who at the time was prohibited from trading because of a 1999 order of the executive director.

 

¶ 3 Johnson gave answers under oath at two compelled interviews by commission staff investigators in late 2004 and early 2005. At the first interview, he appeared alone; at the second he was represented by counsel. At both interviews, when asked by staff investigators about the source of his trading instructions, Johnson said that he did not know that Taylor had allowed Ross to trade in the account, and that to his knowledge, Ross did not do so. These answers were untrue.

 

¶ 4 The trades in the Taylor account earned Johnson’s firm commissions of about $59,000. Johnson says his share of those commissions would have been “50% or less”.