Exemption Orders (Discretionary)
JÜRG BASLER
2001 BCSECCOM 93
IN THE MATTER OF THE SECURITIES ACT
R.S.B.C. 1996, c. 418
AND
IN THE MATTER OF JÜRG BASLER
Exemption Order Under Section 48
[para 1]
WHEREAS Jürg Basler (“Basler”) has applied to the Executive Director for an order under section 48 of the Securities Act, R.S.B.C. 1995, c. 418 that Basler be exempt from the requirements of section 34(1)(c) of the Act with respect to advising in the purchase and sale of securities;
[para 2]
AND WHEREAS Basler has represented to the Executive Director that:
1. Basler is registered with the government of Switzerland as an investment advisor, under registration number 488088;
2. Basler has been providing advice to clients primarily in Switzerland and Germany on the purchase and sale of securities since 1968;
3. Basler recently became resident in British Columbia to retire, but proposes to continue to act as an investment advisor to certain of his former clients, the names and country of residence of which have been provided to the Executive Director, (collectively, the “Clients”); and
4. the Clients consist of 9 persons each of which is resident in Switzerland, Germany or Spain and each Client has requested that Basler continue to advise them with respect to the purchase and sale of securities;
[para 3]
AND WHEREAS the Executive Director considers that to do so would not be prejudicial to the public interest;
[para 4]
IT IS ORDERED under section 48 of the Act that Basler is exempt from the requirements of section 34(1)(c) of the Act with respect to advising the Clients in the purchase and sale of securities, provided that:
1. Basler maintains in good standing his registration as an investment advisor under the laws of Switzerland and complies with such laws at all times when advising the Clients;
2. Basler does not advise any persons with respect to the purchase and sale of securities other than the Clients and only advises the Clients on securities of issuers that trade on a market or exchange in Switzerland and do not trade on any market or exchange in Canada;
3. Basler immediately ceases to advise a Client if the Client becomes resident in Canada and will not advise a Client while the Client is visiting Canada; and
4. Basler provides the Director of Registration of the British Columbia Securities Commission with a written list indicating the name and country of residence of each Client.
[para 5]
DATED December 20, 2000.
Michael Sorbo
Acting Director
Registration