Decisions
Jo Ann Nuttall [Ruling]
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BCSECCOM #:
2012 BCSECCOM 29
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Document Type:
Ruling
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Published Date:
2012-02-01
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Effective Date:
2012-01-30
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Details:
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2012 BCSECCOM 29
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2012 BCSECCOM 29
Jo Ann Nuttall
Securities Act, RSBC 1996, c. 418
| Panel | Brent W. Aitken | Vice Chair |
 | Don Rowlatt | Commissioner |
| Suzanne K. Wiltshire | Commissioner |
| Date submissions completed | January 6, 2012 | |
| Date of Ruling | January 30, 2012 | |
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| Submissions filed by | | |
| Jeremy Gellis | For the Executive Director | |
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| Patricia Taylor | For Jo Ann Nuttall | |
Ruling
I Introduction
¶ 2 On December 2, 2011 the executive director filed submissions on sanction in accordance with the panel’s direction. In those submissions, the executive director sought, among other things, an administrative penalty under section 162 of $75,000.
¶ 3 On December 6, the executive director applied ex parteto the Chair of the Commission for an order under section 151 freezing certain of Nuttall’s assets with an aggregate value of about $80,000. The Chair issued the freeze order on December 8.
¶ 4 On Friday, December 9, Nuttall applied to us to have the freeze order revoked.
¶ 5 On Monday, December 12, the Chair revoked the order.
¶ 6 On December 30 Nuttall filed submissions on sanction as well as submissions arguing that the circumstances surrounding the issuance and revocation of the freeze order were relevant to the issue of sanction. Nuttall also asked for an oral hearing on sanctions, which has been set for February 28, 2012.
¶ 7 We told the parties that before the oral hearing we would rule, based on the parties’ written submissions, on the relevance to sanction of the circumstances surrounding the issuance and revocation of the freeze order.
¶ 8 We rule that the circumstances surrounding the issuance and revocation of the freeze order are not relevant to the issue of sanction.
¶ 9 January 30, 2012
¶ 10 For the Commission
Brent W. Aitken
Vice Chair
Don Rowlatt
Commissioner
Suzanne K. Wiltshire
Commissioner