Settlements

Jan Frederik Fikkert [Sec. 144]

BCSECCOM #:
Document Type:
Sec. 144
Published Date:
1994-07-08
Effective Date:
1994-06-29
Details:



Fikkert (Re)
IN THE MATTER OF The Securities Act, S.B.C. 1985, c. 83
AND IN THE MATTER OF Jan Frederik Fikkert
Orders Under Section 144
D.E. Holley
June 29, 1994

ORDER:-- WHEREAS an Agreed Statement of Facts and Undertaking was executed between Jan Frederik Fikkert ("Fikkert") 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 (the "Orders") BY CONSENT that:

1.pursuant to section 144(1)(c) of the Securities Act, S.B.C. 1985, c. 83 (the "Act"), the exemptions described in sections 30 to 32, 55, 58, 80 and 81 of the Act do not apply to Fikkert; and
2.pursuant to section 144(1)(d) of the Act, Fikkert is prohibited from becoming or acting as a director or officer of any reporting issuer or of any issuer which provides management, administrative or consulting services to a reporting issuer
for a period expiring on June 11, 2000.

*  *  *  *  *
Schedule A
Agreed Statement of Facts and Undertaking

The following agreement has been reached between Jan Frederik Fikkert ("Fikkert") and the Superintendent of Brokers (the "Superintendent"):

1.as the basis for the undertaking referred to in paragraph three of this agreement and the orders made by the Superintendent under sections 144(1)(c) and 144(1)(d) of the Securities Act, S.B.C. 1985, c. 83 (the "Act"), Fikkert acknowledges the following facts as correct:
(a)from 1981 to July, 1988, Fikkert was employed by C.M. Oliver & Company ("C.M. Oliver") as a registered representative;
(b)during the period from approximately April 27, 1988 to July 5, 1988, Fikkert purchased shares of Bondell Industries Inc. ("Bondell") for the trading accounts of certain of his clients without their knowledge or authorization (the "Discretionary Trades");
(c)the Discretionary Trades resulted in a number of Fikkert's clients' accounts being in a debit position (the "Debit Accounts");
(d)during the period from May 27, 1988 to June 30, 1988, Fikkert attempted to reduce the debits in the Debit Accounts by selling the Bondell shares from the Debit Accounts and simultaneously purchasing the shares for the accounts of other of his clients (the "Debit Kiting");
(e)the Discretionary Trades and the Debit Kiting involved in excess of 100,000 Bondell shares;
(f)losses covered by C.M. Oliver relating to the Discretionary Trades and the Debit Kiting in the accounts of Fikkert's clients totalled more than $100,000;
(g)on November 28, 1989, Fikkert was charged with one count of fraud contrary to s. 380 (1)(a) of the Criminal Code of Canada, arising from the Discretionary Trades and the Debit Kiting (the "Criminal Charges");
(h)on June 11, 1990, as a result of the Criminal Charges, the Superintendent issued temporary orders removing Fikkert's statutory trading exemptions and restricting his ability to become or act as a director or officer of any reporting issuer (the "Temporary Orders"), and issued a notice of hearing (the "Hearing") under section 144 of the Act;
(i)on June 21, 1990, the Hearing was adjourned by consent until the Criminal Charges were disposed of, and the Temporary Orders were extended until the Hearing was held and a decision rendered;
(j)on October 26, 1993, Fikkert pled guilty to the Criminal Charges; and
(k)on January 21, 1994, Fikkert was sentenced to six months imprisonment with the recommendation that he be considered for the electronic monitoring program;
2.Fikkert consents to orders (the "Orders") of the Superintendent that:
(a)the exemptions described in sections 30 to 32, 55, 58, 80 and 81 of the Act do not apply to Fikkert; and
(b)Fikkert is prohibited from becoming or acting as a director or officer of any reporting issuer or any issuer which provides management, administrative or consulting services to a reporting issuer
for a period expiring on June 11, 2000;

3.Fikkert undertakes to comply with the provisions of the Act and the Securities Regulation, B.C. Reg. 270/86; and
4.Fikkert 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 agreement and the Orders.
DATED at Vancouver, British Columbia, on June 29, 1994.

"Winton Derby"____________ )
Witness Signature           )
)
________________________ )
Witness Name (Please Print) )
)"Jan Frederik Fikkert"
_________________________ )
_________________________ )
_________________________ )
Address
D.E. HOLLEY, Superintendent of Brokers