Decisions
Gerard Besaw [Reciprocal Order]
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BCSECCOM #:
2010 BCSECCOM 519
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Document Type:
Reciprocal Order
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Published Date:
2010-09-09
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Effective Date:
2010-09-09
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Details:
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2010 BCSECCOM 519
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2010 BCSECCOM 519
Reciprocal Order
Gerard Besaw
Section 161(1) of the Securities Act, RSBC 1996, c. 418
IntroductionGerard Besaw
Section 161(1) of the Securities Act, RSBC 1996, c. 418
¶ 1 This is an order under sections 161(1) and 161(6)(d) of the Securities Act, RSBC 1996, c.418.
Background
¶ 2 Gerard Besaw agreed with the Alberta Securities Commission to be subject to sanctions in a settlement agreement the ASC approved on February 26, 2010 in Besaw, Re, 2010 ABASC 86.
Order
¶ 3 After providing Besaw an opportunity to be heard, and considering staff’s submissions, and considering it to be in the public interest, we order, with Besaw’s consent:
- 1. under section 161(1)(b) of the Act, that Besaw cease trading in, and is prohibited from purchasing, securities and exchange contracts until February 26, 2020, except that Besaw may trade and purchase securities in accordance with the terms of the ASC settlement agreement,
2. under section 161(1)(c) of the Act, that any or all of the exemptions set out in the regulations do not apply to Besaw until February 26, 2020, and
3. under section 161(1)(d)(i) and (ii) of the Act, that Besaw resign any position he holds as, and is prohibited until February 26, 2020, from becoming or acting as, a director or officer of any issuer.
¶ 4 September 8, 2010
¶ 5 For the Commission
Brent W. Aitken
Vice Chair
Kenneth G. Hanna
Commissioner