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BCSC makes reciprocal orders based on Alberta and New Brunswick decisions

  • Date:

    2008-08-20

  • Number:

    2008/54

Vancouver - British Columbia Securities Commission panels have made reciprocal orders in six decisions against eight individuals who were sanctioned by the Alberta Securities Commission and the New Brunswick Securities Commission.

The following individuals are subject to orders made by BCSC panels that are based on Alberta Securities Commission (ASC) and New Brunswick Securities Commission (NBSC) orders made in 2008:

  • Ronald J. Fulton, Jeannie Tracy, James H. Oagles, Robert E. Lane, Carol Jean Sayers, Jennifer Dawn Sayers, Ryan Kristen Sayers, and Robert Vincent Bartel

BCSC commission panels may make reciprocal enforcement orders following a streamlined process when another security regulatory authority has imposed sanctions on a person. Commission panel reciprocal enforcement orders impose market bans on individuals or companies, which can include one or more of the following sanctions:

  • cease trading in and purchasing securities and exchange contracts;
  • a prohibition from becoming or acting as a director or officer of any issuer, registrant or investment fund manager;
  • a prohibition from becoming or acting as a registrant, investment fund manager or promoter;
  • a prohibition from acting as a manager or consultant in the securities market; and
  • a prohibition from engaging in investor relations activities

Under the BCSC enforcement orders:

  • Fulton, Tracy, Oagles and Lane are subject to permanent market bans in B.C. The BCSC orders (BCSECCOM 463, 465, 466 and 467) are based on NBSC decisions rendered on March 26 and 27, 2008.
  • Carol Sayers is subject to market bans until May 15, 2018; Jennifer Sayers is subject to market bans until May 15, 2015; and Ryan Sayers is subject to market bans until May 15, 2023. The BCSC orders (BCSECCOM 468) are based on an ASC decision rendered June 13, 2008 in Executive Marketing & Strategies Ltd., Re, 2008 ABASC 384.
  • Bartel is subject to market bans until June 20, 2015. The BCSC orders (BCSECOMM 462) are based on an ASC decision rendered June 20, 2008 in Bartel, Re, 2008 ABASC 398.

For more information on the BCSC orders and the ASC and NBSC decisions use the name of the individual or document references to conduct a search at www.bcsc.bc.ca,  www.albertasecurities.com or www.nbsc-cvmnb.ca.

The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province. If you have questions, contact Ken Gracey, Media Relations, 604-899-6577.

Learn how to avoid investment fraud at the BCSC's investor education website: www.investright.org.