Settlements
Basil Roy Botha [Order and Settlement Agreement]
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BCSECCOM #:
2010 BCSECCOM 312, 2010 BCSECCOM 313
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Document Type:
Order and Settlement Agreement
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Published Date:
2010-06-02
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Effective Date:
2010-06-02
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Details:
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2010 BCSECCOM 312
2010 BCSECCOM 313
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2010 BCSECCOM 312
Order
Basil Roy Botha
Securities Act, RSBC 1996, c. 418
Basil Roy Botha
Securities Act, RSBC 1996, c. 418
Background
¶ 1 The Executive Director of the British Columbia Securities Commission has entered into a settlement agreement with Basil Roy Botha (Botha), a copy of which is attached as Schedule A.
Order
¶ 2 The Executive Director, considering it to be in the public interest to do so, orders, by consent (the Order), that:
1. under section 161(1)(a) of the Securities Act, RSBC 1996, C. 418 (the Act) Botha will comply fully with the Act, the Securities Rules, BC Reg. 184/97, and any applicable regulations; and
2. under section 161(1)(d)(iii) of the Act, Botha is prohibited from becoming or acting as an advisor for three years from the date of this Order.
¶ 3 June 1, 2010
Paul C. Bourque
¶ 4 Paul C. Bourque, Q.C.
Executive Director
2010 BCSECCOM 313
Settlement Agreement
Basil Roy Botha
Securities Act, RSBC 1996, c. 418
The Executive Director of the British Columbia Securities Commission (the Executive Director) and Basil Roy Botha (Botha) agree as follows:
Facts
¶ 1 Botha is a resident of British Columbia and a former registrant under the Act.
Misconduct
¶ 2 Between May 2006 and September 2007 (Relevant Period), Botha acted as an unregistered adviser for at least eleven residents of British Columbia (Investors), contrary to section 34(1)(c) of the Act. In particular, Botha:
1. managed online brokerage accounts for some of the Investors; and
2. charged the Investors on a fee for profit basis.
¶ 3 As a result of the conduct outlined above, Botha received $64,165.82 in fees from the Investors (Fees).
Undertakings
¶ 4 Botha undertakes to:
1. reimburse the Investors by returning the Fees;
2. within 90 days of the date of the Order defined in paragraph 5 provide the Executive Director:
(a) an accounting of the portion of the Fees provided to each of the Investors; and
(b) proof that the Fees have been returned to the Investors; and
3. pay $10,000.00 to the British Columbia Securities Commission in respect of settlement of this matter which sum is due and payable immediately without further demand.
Order
¶ 5 The Executive Director, considering it to be in the public interest, will issue an order (the Order) that:
1. under section 161(1)(a) of the Securities Act, RSBC 1996,c. 418 Botha will comply fully with the Act, the Securities Rules, BC Reg. 194/97, and any applicable regulations; and
2. under section 161(1)(d)(iii) of the Act, Botha will be prohibited from becoming or acting as an adviser for a period of three years from the date of the Order.
Consent to Reciprocal Orders
¶ 6 Any securities regulator in Canada may rely on the facts admitted in this agreement solely for the purpose of making an order similar to the one contemplated above.
Waiver
¶ 7 Botha waives any right he may have, under the Act or otherwise, to a hearing, hearing and review, judicial review or appeal related to, in connection with, or incidental to this settlement.
Counterpart
¶ 8 This Settlement Agreement may be executed in counterpart or by facsimile execution and all such counterparts of executed copies or faxed copies shall be read or construed together as if they formed one originally executed document.
¶ 9 May 17, 2010
¶ 10 ____Basil Roy Botha__________
Basil Roy Botha
_____Carey Veinotte )
Witness Signature )
_____Carey Veinotte )
Witness Name (please print) )
_____300 – 1168 Hamilton Street
_____Vancouver, BC )
Address )
______Barrister & Solicitor
Occupation )
¶ 11 June 1 2010
Paul C. Bourque
¶ 12 Paul C. Bourque, Q.C.
Executive Director