Decisions
Phillip Ross Hallett [Reciprocal Order]
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BCSECCOM #:
2010 BCSECCOM 526
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Document Type:
Reciprocal Order
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Published Date:
2010-09-10
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Effective Date:
2010-09-08
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Details:
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2010 BCSECCOM 526
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2010 BCSECCOM 526
Reciprocal Order
Phillip Ross Hallett
Section 161(1) of the Securities Act, RSBC 1996, c. 418
Section 161(1) of the Securities Act, RSBC 1996, c. 418
Introduction
¶ 1 This is an order under sections 161(1) and 161(6)(d) of the Securities Act, RSBC 1996, c.418.
Background
¶ 2 Phillip Ross Hallett agreed with the Alberta Securities Commission to be subject to sanctions in a settlement agreement the ASC approved on May 18, 2010 in Hallett Financial Services Ltd., Re, 2010 ABASC 232.
Order
¶ 3 After providing Hallett an opportunity to be heard, and considering staff’s submissions, and considering it to be in the public interest, we order:
1. under section 161(1)(c) of the Act, that any or all of the exemptions set out in the regulations do not apply to Hallett until May 18, 2015, and
2. under section 161(1)(d)(i) and (ii) of the Act, that Hallett resign any position he holds as, and is prohibited until May 18, 2015, from becoming or acting as, a director or officer of any issuer, in accordance with the terms of the ASC settlement agreement.
¶ 4 September 8, 2010
¶ 5 For the Commission
Brent W. Aitken
Vice Chair
Bradley Doney
Commissioner