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
Click on the Adobe icon to launch the Acrobat Reader
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
- 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.
- 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). - 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.