Decisions
ROBERT A. DIIANNI [Sec. 174]
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BCSECCOM #:
2001 BCSECCOM 1010
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Document Type:
Sec. 174
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Published Date:
2001-10-23
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Effective Date:
2001-10-23
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Details:
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2001 BCSECCOM 1010
COR#01/114
IN THE MATTER OF THE SECURITIES ACT
R.S.B.C. 1996, c. 418
AND
IN THE MATTER OF ROBERT A. DIIANNI (AKA ROBERT DIANNI)
Costs Order Under Section 174
Background
[para 1]
In a decision dated September 14, 2001, the Commission ordered Robert A. DiIanni (aka Robert Dianni) to pay hearing costs. On September 18, 2001, Commission staff submitted a bill of costs totalling $7,308.33. The bill of costs was sent to Mr. DiIanni to seek his submissions, which he sent October 10, 2001.
Discussion
[para 2]
As noted in our decision, this is an old matter. It was brought before us as part of a staff project to deal with old files that have not been settled, heard or closed. In this case, the delay is not attributable to the respondent. When delays of this length occur, duplication of work inevitably occurs. Time was no doubt spent studying the file and preparing for the hearing that would not have been necessary had the matter proceeded on a more timely basis.
In addition, new rates for certain cost items recently came into effect and we do not think it fair that Mr. DiIanni pay these costs at the new rate.
In our opinion, the bill of costs does not adequately reflect these circumstances. In making the order below, we have therefore adjusted the bill of costs as follows:
1. We have reduced the hourly rates for litigation and investigation costs from $100 to $50.
2. We have reduced the number of hours charged for the investigation by one-third.
(The amount for litigation costs is therefore reduced from $2,410 to $1,205; for investigation costs from $1,753.83 to $600.)
3. We have reduced administration costs from $2,000 to $1,000.
Order
[para 3]
The Commission orders, under section 174 of the Securities Act, R.S.B.C. 1996, c. 418, that Robert A. DiIanni (aka Robert Dianni) pay $3,949.50.
[para 4]
Dated October 23, 2001.
Brent W. Aitken, Commissioner
Joan L. Brockman, Commissioner
Roy Wares, Commissioner