Decisions

ecoTECH Energy Group Inc., currently known as Dong Fang Hui Le Inc., Colin V. Hall, Rolf Eugster, and Anne Sanders [Decision]

BCSECCOM #:
2019 BCSECCOM 399
Document Type:
Decision
Published Date:
2019-11-05
Effective Date:
2019-11-04
Details:

2019 BCSECCOM 399

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ecoTECH Energy Group Inc., currently known as Dong Fang Hui Le Inc.,

 Colin V. Hall, Rolf Eugster, and Anne Sanders

 

Panel

Nigel P. Cave

Vice Chair; Commissioner

 

Audrey T. Ho

Commissioner

 

George C. Glover  

Commissioner

 

Hearing date

October 15, 2019

 

Decision date

November 4, 2019

 

Appearing

Deborah Flood

 

Rolf Eugster

 

Anne Sanders

 

For the Executive Director

 

For Rolf Eugster and Colin Hall

 

For Anne Sanders

 

Decision

I.  Introduction

  1. This is the sanctions portion of a hearing under sections 161(1) and 162 of the Securities Act, 1996, c. 418.  The findings of this panel on liability made on June 3, 2019 (2019 BCSECCOM 199) are part of this decision.

  2. We found that:

    a)  ecoTECH breached a cease trade order of the Commission with respect to

    i)  2,009,634 shares issued to a total of 16 investors for aggregate proceeds of $55,100; and

    ii)  approximately 73 million shares issued to 15 persons as compensation for services rendered to ecoTECH at an effective issuance price of $0.045 per share;

    b)  ecoTECH contravened section 50(1)(d) of the Act with respect to 2,009,634 shares issued to a total of 16 investors for aggregate proceeds of $55,100;

    c)  each of Hall and Sanders authorized, permitted or acquiesced to ecoTECH’s contraventions as set out above, and therefore, pursuant to section 168.2 of the Act, they also breached the cease trade order and section 50(1)(d) in the same manner as ecoTECH; and

    d)  Eugster authorized, permitted or acquiesced to ecoTECH’s contraventions set out in subparagraph (a)(i) and (b) above, and therefore, pursuant to section 168.2 of the Act, he also breached the cease trade order and section 50(1)(d) in the same manner as ecoTECH (in subparagraphs (a)(i) and (b), above).

  3. The executive director and each of Eugster, Hall and Sanders (the Individual Respondents) provided written and oral submissions on the appropriate sanctions in this case.  ecoTECH did not make any submissions on sanction and did not attend the oral hearing on sanction.

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