Settlements
Doherty & Associates Ltd. [Order & Settlement Agreement]
BCSECCOM #:
2008 BCSECCOM 448, 2008 BCSECCOM 449
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Document Type:
Order & Settlement Agreement
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Published Date:
2008-08-15
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Effective Date:
2008-08-13
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Details:
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2008 BCSECCOM 448
2008 BCSECCOM 449
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2008 BCSECCOM 448
Order
Doherty & Associates Ltd.
Section 161 of the Securities Act, RSBC 1996, c. 418
- Background
- The Order
- 1. under section 161(1)(a) of the Securities Act, RSBC 1996, c. 418, Doherty will comply fully with the Act, the Securities Rules, B.C. Reg. 194/97, and any applicable regulations; and
2. under section 161(1)(j) of the Act, Doherty is reprimanded.
¶ 3 August 13, 2008
- “Brenda Leong”
- Executive Director
2008 BCSECCOM 449
Settlement Agreement
Doherty & Associates Ltd.
Securities Act, RSBC 1996, c. 418
¶ 1 The Executive Director of the British Columbia Securities Commission (the Executive Director) and Doherty & Associates Ltd. (Doherty) agree as follows:
- Agreed Statement of Facts
1. Doherty is, and was from October 4, 1979, registered as an Investment Counsel and Portfolio Manager (ICPM) in the province of Ontario.
2. Doherty was not registered in any capacity under the Securities Act, RSBC 1996, c. 418 until May 8, 2008, when it became registered as an ICPM.
- 3. From July 2002 to May 7, 2008, Doherty provided investment advice to four clients who were BC residents.
4. By advising BC residents without being registered to do so, Doherty breached section 34 of the Act.
Mitigating Factors
5. Staff of the Commission are not aware of any complaints having been made by Doherty’s BC resident clients.
6. Doherty does not have a previous regulatory history with the Commission.
7. Doherty voluntarily initiated registration with the Commission and actively cooperated with staff of the Commission during the course of the investigation of this matter.
8. Doherty did not solicit potential new clients in BC.
Public Interest
9. Doherty acted contrary to the public interest by engaging in the conduct set out above.
Undertaking
10. Doherty will pay $19,825 to the Commission, which is due and payable immediately without further demand. This includes $10,825 in respect of registration fees that otherwise would have been payable to the Commission if Doherty had been registered under the Act as required.
Order
- 1. under section 161(1)(a) of the Act, Doherty will comply fully with the Act, the Securities Rules, B.C. Reg. 194/97, and any applicable regulations; and
2. under section 161(1)(j) of the Act, Doherty be reprimanded.
Consent to Reciprocal Orders
- Waiver
- Counterpart
¶ 6 August 8, 2008
¶ 7 ”Rob Badun”__________________________
- Doherty & Associates Ltd.
(Signing Authority)
Rob Badun
Print Signing Authority Name
“C-J Chang” )
Witness Signature )
C-J Chang )
Witness Name (please print) )
19 Bayberry Cres. )
Toronto, ON M2K 1T9 )
Address )
CA )
Occupation )
¶ 8 August 13, 2008
- “Brenda Leong”
- Executive Director