Decisions

Paul Charles Whitelaw, David Edward Harris and Francois Michaud [Reciprocal Order]

BCSECCOM #:
2014 BCSECCOM 17
Document Type:
Reciprocal Order
Published Date:
2014-01-30
Effective Date:
2014-01-16
Details:

2014 BCSECCOM 17

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Reciprocal Order

Paul Charles Whitelaw, David Edward Harris and Francois Michaud

Section 161 of the Securities Act, RSBC 1996, c. 418


      Introduction
¶ 1 This is an order under sections 161(1) and 161(6)(c) of the Securities Act, RSBC 1996,
c. 418.
      Background
¶ 2 Paul Charles Whitelaw, David Edward Harris and Francois Michaud are subject to orders made by the Alberta Securities Commission on May 11, 2011 in Planned Legacies Inc., Re, 2011 ABASC 278.
      Order
¶ 3 After providing Whitelaw, Harris and Michaud an opportunity to be heard, and considering staff’s and Harris’ submissions and considering it to be in the public interest, we order:
      Whitelaw
      1. under section 161(1)(b) of the Act, that Whitelaw cease trading in, and is prohibited from purchasing, securities until May 11, 2031, except that Whitelaw may trade and purchase securities in accordance with the terms of the ASC decision;

      2. under section 161(1)(c) of the Act, that all of the exemptions set out in the regulations do not apply to Whitelaw until May 11, 2031, except for those exemptions necessary to enable Whitelaw to trade and purchase securities in accordance with the terms of the ASC decision;

      3. under section 161(1)(d)(i) and (ii) of the Act, that Whitelaw resign any position he holds as, and is prohibited until May 11, 2031 from becoming or acting as, a director or officer of any issuer, registrant or investment fund manager, except that this order does not preclude Whitelaw from continuing to act as a director and officer (or both) of Paul C. Whitelaw & Associates Ltd. in accordance with the terms of the ASC decision;

      4. under section 161(1)(d)(iii) of the Act, that Whitelaw is prohibited until May 11, 2031, from becoming or acting as a registrant, investment fund manager or promoter; and

      5. under section 161(1)(d)(iv) of the Act, that Whitelaw is prohibited until May 11, 2031, from acting in a management or consultative capacity in connection with activities in the securities market;
      Harris
      6. under section 161(1)(b) of the Act, that Harris cease trading in, and is prohibited from purchasing, securities until May 11, 2021, except Harris may trade and purchase securities in accordance with the terms of the ASC decision;

      7. under section 161(1)(c) of the Act, that all of the exemptions set out in the regulations do not apply to Harris until May 11, 2021, except for those exemptions necessary to enable Harris to trade and purchase securities in accordance with the terms of the ASC decision;

      8. under section 161(1)(d)(iii) of the Act, that Harris is prohibited until May 11, 2021 from becoming or acting as a registrant, investment fund manager or promoter; and

      9. under section 161(1)(d)(iv) of the Act, that Harris is prohibited until May 11, 2021, from acting in a management or consultative capacity in connection with activities in the securities market;
      Michaud
      10. under section 161(1)(b) of the Act, that Michaud cease trading in, and is prohibited from purchasing, securities permanently;

      11. under section 161(1)(c) of the Act, that all of the exemptions set out in the regulations do not apply to Michaud permanently;

      12. under section 161(1)(d)(i) and (ii) of the Act, that Michaud resign any position he holds as, and is permanently prohibited from becoming or acting as, a director or officer of any issuer, registrant or investment fund manager;

      13. under section 161(1)(d)(iii) of the Act, that Michaud is permanently prohibited from becoming or acting as a registrant, investment fund manager or promoter; and

      14. under section 161(1)(d)(iv) of the Act, that Michaud is permanently prohibited from acting in a management or consultative capacity in connection with activities in the securities market.

¶ 4 January 16, 2014

¶ 5 For the Commission




Brent W. AitkenDon Rowlatt
Vice ChairCommissioner