News Release
Commission Issues Order Against Ayers
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Date:
1995-11-17 -
Number:
95/28
Released: November 10, 1995 Contact: Ron Messent 660-4800 or 1-800-373-6393
The British Columbia Securities Commission has issued an order removing Elmer Patrick Ayers' trading exemptions and prohibiting Ayers from acting as an officer or director of any issuer until September 27, 2011. Ayers was also ordered to pay an administrative penalty of $7,500 and the costs of the hearing.
On September 27, 1991, Elmer Patrick Ayers consented to an order of the Superintendent of Brokers under section 144(1) of the Securities Act that removed Ayers trading exemptions for a period of 10 years ending September 27, 2001.
The Commission found that Ayers contravened the order in 1993 by selling securities to an individual in Kelowna. For that reason the Commission broadened and extended the order.
The British Columbia Securities Commission is a provincial government agency responsible for regulating trading in securities and exchange contracts.
Copies of the Commission's order (3 pages) may be obtained in person at 1100 - 865 Hornby Street, Vancouver, British Columbia.