Settlements

Vagn T.M. Andersen [Sec. 144]

BCSECCOM #:
Document Type:
Sec. 144
Published Date:
1989-12-27
Effective Date:
1989-12-27
Details:


Andersen (Re)
IN THE MATTER OF the Securities Act, S.B.C. 1985,
c. 83, as amended
AND IN THE MATTER OF Vagn T.M. Andersen
Orders under Section 144
W.D. Nesmith
December 27, 1989

ORDERS:-- WHEREAS an Agreed Statement of Facts and Undertaking was executed by Vagn T.M. Andersen ("Andersen") and the Superintendent of Brokers (the "Superintendent") a copy of which is attached hereto as Schedule "A";

NOW THEREFORE, the Superintendent, considering that it would be in the public interest to do so, orders that:

1.
pursuant to Section 144(1)(c) of the Securities Act, S.B.C. 1985, c. 85, as amended (the "Act") the exemptions described in sections 30 to 32, 55, 58, 80 or 81 of the Act do not apply to Andersen for a period ending September 12, 1993; and
2.
pursuant to Section 144(1)(d) of the Act, Andersen is prohibited from becoming or acting as a director or officer of any issuer for a period ending September 12, 1993;
W.D. NESMITH
Superintendent of Brokers

Schedule "A"
IN THE MATTER OF THE SECURITIES ACT
S.B.C. 1985, c. 83, AS AMENDED
AND IN THE MATTER OF VAGN T.M. ANDERSEN
AGREED STATEMENT OF FACTS AND UNDERTAKING

The following agreement has been reached between Vagn T.M. Andersen ("Andersen") and the Superintendent of Brokers (the "Superintendent");

1.
As the basis for orders made pursuant to Section 144 of the Securities Act, S.B.C. 1985, c. 83, as amended (the "Act") withdrawing the statutory exemptions of Andersen and prohibiting Andersen from becoming or acting as a director or officer of any issuer, Andersen acknowledges that:
(a)
on September 12, 1988, Andersen was found guilty of the manipulation of stock exchange transactions contrary to Section 340 of the Criminal Code of Canada;
(b)
that Andersen was ordered to pay a fine in relation to the above offense;
(c)
that the offense related directly to the trading by Andersen in the shares of Time Resources Ltd. subsequent to the listing of that company's shares on the Vancouver Stock Exchange of July 20, 1984.
2.
Andersen hereby consents to orders of the Superintendent pursuant to Section 144 of the Act in the form attached hereto as Schedule "B" (the "Order").
3.
Andersen waives his right to a hearing and review by the British Columbia Securities Commission pursuant to Section 147 of the Act with respect to the Order.
V.T.M. ANDERSEN
W.D. NESMITH
Superintendent of Brokers

©2024 British Columbia Securities Commission