Decisions
Simon Wilby and Michael Sirman [Reciprocal Order]
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BCSECCOM #:
2010 BCSECCOM 530
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Document Type:
Reciprocal Order
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Published Date:
2010-09-10
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Effective Date:
2010-09-08
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Details:
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2010 BCSECCOM 530
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2010 BCSECCOM 530
Reciprocal Order
Simon Wilby and Michael Sirman
Section 161(1) 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 Simon Wilby and Michael Sirman agreed with the Alberta Securities Commission to be subject to sanctions in a decision the ASC approved on June 16, 2010 in Wilby, Re, 2010 ABASC 271.
Order
¶ 3 After providing Wilby an opportunity to be heard, and considering staff’s submissions, and considering it to be in the public interest, we order:
1. under section 161(1)(b) of the Act, that Wilby cease trading in, and is prohibited from purchasing, securities until March 1, 2012, except that Wilby may trade and purchase securities in accordance with the terms of the ASC decision,
2. under section 161(1)(c) of the Act, that any or all of the exemptions set out in the regulations do not apply to Wilby until March 1, 2012, and
3. under section 161(1)(d)(i) and (ii) of the Act, that Wilby resign any position he holds as, and is prohibited until March 1, 2012, from becoming or acting as, a director or officer of any issuer.
¶ 4 After providing Sirman an opportunity to be heard, and considering staff’s submissions, and considering it to be in the public interest, we order:
1. under section 161(1)(b) of the Act, that Sirman cease trading in, and is prohibited from purchasing, securities and until June 16, 2020, except that Sirman may trade and purchase securities in accordance with the terms of the ASC decision,
2. under section 161(1)(c) of the Act, that any or all of the exemptions set out in the regulations do not apply to Sirman until June 16, 2020, and
3. under section 161(1)(d)(i) and (ii) of the Act, that Sirman resign any position he holds as, and is prohibited until June 16, 2020, from becoming or acting as, a director or officer of any issuer.
¶ 5 September 8, 2010
¶ 6 For the Commission
Brent W. Aitken
Vice Chair
Bradley Doney
Commissioner