Settlements

DONALD JOHN SUTCLIFFE [Sec. 161 & Agreed Stmt.]

BCSECCOM #:
Document Type:
Sec. 161 & Agreed Stmt.
Published Date:
2000-03-10
Effective Date:
2000-03-06
Details:


IN THE MATTER OF THE SECURITIES ACT
R.S.B.C. 1996, c. 418

AND

IN THE MATTER OF DONALD JOHN SUTCLIFFE

Order Under Section 161

1. WHEREAS an Agreed Statement of Facts and Undertaking was executed by Donald John Sutcliffe (“Sutcliffe”) and the Executive Director, a copy of which is attached hereto as Schedule “A” (the “Agreement”);

2. NOW THEREFORE the Executive Director, considering that it would be in the public interest to do so, orders, BY CONSENT, that:
          2.1 under section 161(1)(d)(ii) of the Act Sutcliffe is prohibited from becoming or acting as a director or officer of a reporting issuer in British Columbia for a period ending on the later of:
              2.1.1 six months from the date of the Agreed Statement of Facts and Undertaking; and

              2.1.2 the date Sutcliffe has successfully completed the Securities Program, consisting of the Going Public and Continuous Disclosure courses, offered by Simon Fraser University; and

          2.2 under section 161(1)(d)(iii) of the Act Sutcliffe is prohibited from engaging in any investor relations activities in British Columbia for six months from the date of the Agreed Statement of Facts and Undertaking.


DATED at Vancouver, British Columbia, on March 6, 2000.


Steve Wilson
Executive Director


Schedule “A”
IN THE MATTER OF THE SECURITIES ACT
R.S.B.C. 1996, c. 418

AND


IN THE MATTER OF DONALD JOHN SUTCLIFFE


Agreed Statement of Facts and Undertaking


      The following agreement has been reached between Donald John Sutcliffe ("Sutcliffe”) and the Executive Director:
      1. As the basis for the order and payment referred to below, Sutcliffe acknowledges the following facts as correct:
          1.1 Sutcliffe is a resident of Vancouver, British Columbia.
            1.2 In March 1988, Sutcliffe completed and filed a Form 4, titled “Uniform Application for Registration/Approval” (the “Form 4”), with the British Columbia Securities Commission (the “Commission”), pursuant to the Securities Act, R.B.C. 1985, c. 83, now the Securities Act, R.S.B.C. 1996, c. 418 (the “Act”).
            1.3 In answer to question 7(A) on the Form 4, under the heading “Education”, Sutcliffe disclosed that, in 1976, he had completed and obtained a Bachelor of Commerce degree (“BCom”) and a Masters of Business Administration degree (“MBA”) from the University of British Columbia (“UBC”).
            1.4 On March 14, 1988, Sutcliffe swore an affidavit affirming that the contents of the Form 4 were accurate.
            1.5 Sutcliffe was aware, prior to completing the Form 4, that he had not completed and obtained either a BCom or an MBA from UBC as disclosed.
            1.6 In January 1999, Sutcliffe completed and filed a Form 4B, titled “Personal Information for Directors, Officers, Promoters & Control Persons” (the “Form 4B”), with the Commission, pursuant to the Act.
            1.7 In answer to question 2 on the Form 4B, under the heading “Educational History”, Sutcliffe disclosed that he had completed and obtained from UBC a BCom, on May 1, 1975, and an MBA, on May 1, 1976.
            1.8 On January 28, 1999, Sutcliffe completed a statutory declaration affirming that the contents of the Form 4B were accurate.
            1.9 Sutcliffe was aware, prior to completing the Form 4B, that he had not completed and obtained either a BCom or an MBA from UBC as alleged or at all.
            1.10 Sutcliffe has co-operated fully with the staff of the Commission in its investigation of the matters set out herein.

            1.11 Sutcliffe represents that:
                1.11.1 the subject matter of this agreement was brought to the attention of the Commission at his insistence;
                1.11.2 he has resigned, as of October 1999, from every position that he held as director or officer of a reporting issuer in British Columbia;
            1.11.3 he, in the meantime, has completed a BCom degree; and
                1.11.4 he has registered for the Securities Program offered by Simon Fraser University in Vancouver.

    2. Sutcliffe consents to an order by the Executive Director (the "Order") that:
            2.1 under section 161(1)(d)(ii) of the Act Sutcliffe is prohibited from becoming or acting as a director or officer of a reporting issuer in British Columbia for a period ending on the later of:
                2.1.1 six months from the date of the Agreed Statement of Facts and Undertaking; and

                2.1.2 the date Sutcliffe has successfully completed the Securities Program, consisting of the Going Public and Continuous Disclosure courses, offered by Simon Fraser University; and

            2.2 under section 161(1)(d)(iii) of the Act Sutcliffe is prohibited from engaging in any investor relations activities in British Columbia for six months from the date of the Agreed Statement of Facts and Undertaking.

        3. Sutcliffe has paid the sum of $10,000 to the Commission, $5,000 of which represents the costs of the investigation and the remainder an administrative penalty.

        4. Sutcliffe waives any right he may have, under the Act, or otherwise, to a hearing and review, judicial review or appeal related to this agreement.


    DATED at Vancouver, British Columbia, on February 22, 2000.

    “Nicole Smith”
    )
    Witness Signature )
    ) “Donald Sutcliffe”
    Nicole Smith )
    Witness Name (Please Print) ) Donald John Sutcliffe
    )
    2900 – 695 Burrard Street )
    Address )
    )
    Legal Secretary )
    Occupation )


    DATED at Vancouver, British Columbia, on March 6, 2000.


    Steve Wilson
    Executive Director
    ©2024 British Columbia Securities Commission