Settlements
Don Maxwell [Order and Settlement Agreement]
BCSECCOM #:
2011 BCSECCOM 411, 2011 BCSECCOM 412
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Document Type:
Order and Settlement Agreement
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Published Date:
2011-08-31
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Effective Date:
2011-08-30
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Details:
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2011 BCSECCOM 411
2011 BCSECCOM 412
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2011 BCSECCOM 411
Order
Don Maxwell
Securities Act, RSBC 1996, c. 418 (the Act)
Don Maxwell
Securities Act, RSBC 1996, c. 418 (the Act)
Background
- Order
1. under section 161(1)(b) of the Act, Maxwell cease trading any securities or exchange contracts, except that he may trade:
(a) securities in accounts in his own name with a person registered to trade in securities under the Act; and
(b) non-syndicated mortgages as long as he is registered under the Mortgage Brokers Act,RSBC 1996, c. 313.
2. under section 161(1)(d)(iii), (iv), and (v) of the Act:
(a) Maxwell is prohibited from becoming or acting as a registrant, investment fund manager or promoter,
(b) Maxwell is prohibited from acting in a management or consultative capacity in connection with activities in the securities market;
(c) Maxwell is prohibited from engaging in investor relations activities
for a period of 5 years from the date of the Order;
¶ 3 August 30, 2011
Paul Bourque
¶ 4 Paul C. Bourque, Q.C.
Executive Director
2011 BCSECCOM 412
Settlement Agreement
Don Maxwell
Securities Act, RSBC 1996, c. 418
Don Maxwell
Securities Act, RSBC 1996, c. 418
¶ 1 The Executive Director of the British Columbia Securities Commission (the Executive Director) and Don Maxwell (Maxwell) agree as follows:
Agreed Statement of Facts
1. Maxwell is a mortgage broker and a resident of British Columbia.
2. Maxwell has not been registered to trade in securities since 1988 and has not filed a prospectus under the Act.
3. Gold-Quest International (Gold-Quest) was a company that had its office in Las Vegas, Nevada. Gold-Quest represented it was involved in foreign exchange markets (forex) trading.
Misconduct – Trading Without Registration
4. Between June 2007 and January, 2008, Maxwell provided promotional information to a friend who was also a mortgage client about investing in Gold-Quest (the Investor).
5. The Investor invested two times in Gold-Quest for a total of USD$223,000.
6. Maxwell’s actions, directly or indirectly, led to his trading of Gold-Quest securities contrary to sections 34 and to a distribution of Gold-Quest securities contrary to section 61 of the Act.
Order
1. under section 161(1)(b) of the Act, Maxwell cease trading any securities or exchange contracts, except that he may trade:
(a) securities in accounts in his own name with a person registered to trade in securities under the Act; and
(b) non-syndicated mortgages as long as he is registered under the Mortgage Brokers Act,RSBC 1996, c. 313.
2. under section 161(1)(d)(iii), (iv), and (v) of the Act:
(a) Maxwell is prohibited from becoming or acting as a registrant, investment fund manager or promoter,
(b) Maxwell is prohibited from acting in a management or consultative capacity in connection with activities in the securities market;
(c) Maxwell is prohibited from engaging in investor relations activities
for a period of 5 years from the date of the Order;
Undertaking
3. Maxwell undertakes to pay $7,000 to the British Columbia Securities Commission in respect of settlement of this matter which sum is due and payable immediately without further demand.
Consent to Reciprocal Orders
Waiver
Counterpart
¶ 6 August 29, 2011
¶ 7 _____Don Maxwell_____________
Don Maxwell
____H. Roderick Anderson_______ )
Witness Signature )
H. Roderick Anderson___________ )
Witness Name (please print) )
3200 Vancouver Centre__________ )
650 West Georgia Street )
Vancouver, BC V6B 4P7________ )
Address )
Barrister & Solicitor_____________ )
Occupation )
¶ 8 August 30, 2011
Paul Bourque
¶ 9 Paul C. Bourque, Q.C.
Executive Director