Settlements

CHAD RAYMOND EKREN [Agreed Stmt]

BCSECCOM #:
Document Type:
Agreed Stmt
Published Date:
1997-04-04
Effective Date:
1997-04-01
Details:


IN THE MATTER OF THE SECURITIES ACT
S.B.C. 1985, c. 83

AND

IN THE MATTER OF CHAD RAYMOND EKREN


Agreed Statement of Facts and Undertaking


The following agreement has been reached between Chad Raymond Ekren (“Ekren”) and the Executive Director:

1. As the basis for the undertakings referred to in paragraph 3 of this agreement, Ekren acknowledges the following facts as correct:
      (a) Ekren has been registered, pursuant to section 20 of the Securities Act, S.B.C. 1985, c. 83 (the “Act”), as a mutual fund salesperson with Richmond Savings Investments (“RSI”) since June 19, 1995;

      (b) At various times in 1995 and 1996, while registered with RSI, Ekren accepted signed investment applications for purchases of mutual fund securities on behalf of at least eight persons (the “Clients”) for which he was listed as the sales representative (the “Transactions”);

      (c) Ekren was not present at the signing of the investment applications for the Transactions; and

      (d) Prior to the Transactions, Ekren did not meet all of the Clients for the specific purpose of making enquiries concerning the Clients in order to learn the essential facts relative to the Clients and to determine the suitability of the proposed Transactions for the Clients, contrary to section 48 of the Securities Rules, B.C. 479/95 (the “Rules”).
2. Ekren has co-operated fully with staff of the British Columbia Securities Commission (the “Commission”).

3. Ekren undertakes and agrees to:
      (a) be subject to strict supervision for a six month period by his employer commencing upon the execution of this agreement;

      (b) pay the sum of $1,000 to the order of the Commission upon the execution of this agreement; and

      (c) comply fully with the Act, the Rules and all applicable regulations.
4. Ekren 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 the agreement and any related orders.

DATED at Vancouver, British Columbia, on March 27, 1997.



_________________________)
Witness Signature)
)
Banny L. Hu_______________)
Witness Name (Please print))
1030 - 4720 Kingsway)
Burnaby, B.C. V5H 4N2____)_______________________
Address )Chad Raymond Ekren
)
Financial Planner___________)
Occupation)

DATED at Vancouver, British Columbia, on April 1, 1997.






Paul C. Bourque
Executive Director
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