Decisions
Kegam Kevin Torudag and Lai Lai Chan [Ruling]
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BCSECCOM #:
2009 BCSECCOM 1
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Document Type:
Ruling
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Published Date:
2009-01-06
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Effective Date:
2009-01-05
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Details:
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2009 BCSECCOM 1
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2009 BCSECCOM 1
Kegam Kevin Torudag and Lai Lai Chan
Section 161 of the Securities Act, RSBC 1996, c. 418
Application
Panel Brent W. Aitken Vice Chair
Bradley Doney Commissioner
Shelley C. Williams Commissioner
Date of application December 17, 2008
Date of ruling January 5, 2009
Appearing
H. Roderick Anderson For Kegam Kevin Torudag
Sean K. Boyle For the Executive Director
Ruling
¶ 1 On June 24, 2008, the executive director issued a notice of hearing alleging that Kegam Kevin Torudag and Lai Lai Chan contravened section 86 of the Securities Act, RSBC 1996, c. 418, by purchasing shares of Icon Industries Limited while being persons in a special relationship with Icon by virtue of their having undisclosed material information about the company.
¶ 2 Torudag and Chan applied for a ruling that the Commission does not have the jurisdiction to hear the allegations in the notice of hearing.
¶ 3 We dismiss the application. Our reasons will follow.
¶ 4 January 5, 2009
¶ 5 For the Commission
Brent W. Aitken
Vice Chair
Bradley Doney
Commissioner
Shelley C. Williams
Commissioner