BCN 2001/15 - Adoption of BC Policy 15-601 Commission Hearings and Renumbering of Forms 1, 1A and 2 [BCN - Rescinded]

Effective today, the Commission has adopted BC Policy 15-601 “Commission Hearings” to replace Local Policy Statement 3-12 “Rules for Proceedings”.  A draft version of the Policy was published for comment on January 18, 2001.  Five comment letters were received and some changes were made as a result of the comments received.

Compared to LPS 3-12, the Policy has been reorganized and redrafted on plain language principles.  Several sections have been added.  These include:

• guidelines for disclosure of evidence by Commission staff and respondents,
• a description of the settlement process,
• a description of the criteria used by the Commission in determining whether to proceed by way of a new hearing when considering a hearing and review,
• information about the Commission’s computer-based real time reporting system,
• guidelines for media coverage of hearings, and
• timing guidelines for the release of decisions.

The Executive Director specifies a new form of summons for attendance before the Commission as BC Form 15-601F. 

At the same time, the Executive Director specifies BC Forms 15-901F and 15-902F, as the new forms of summons and demand for production relating to an investigation, and BC Form 15-903F, as the new form for affidavit of service.  These new forms replace Forms 1, 1A and 2 effective today, but the old forms can be used until June 1, 2001.

DATED at Vancouver, British Columbia, on March 15, 2001.

Douglas M. Hyndman
Chair Gerry Halischuk
 Acting Executive Director

Ref:  LPS 3-12
Forms 1, 1A and 2

This Notice may refer to other documents. These documents can be found at the B.C. Securities Commission public website at www.bcsc.bc.ca in the Commission Documents database or the Historical Documents database.