Settlements

PETER C. TATHAM [Sec. 161 & Agreed Stmt]

BCSECCOM #:
Document Type:
Sec. 161 & Agreed Stmt
Published Date:
1998-11-20
Effective Date:
1998-11-12
Details:


IN THE MATTER OF THE SECURITIES ACT
R.S.B.C. 1996, c. 418

AND

IN THE MATTER OF PETER C. TATHAM


Order Under Section 161


WHEREAS an Agreed Statement of Facts and Undertaking (the “Agreement”) was executed by Peter C. Tatham (“Tatham”) and the Executive Director, a copy of which is attached hereto as Schedule “A”;

NOW THEREFORE, the Executive Director, considering that it would be in the public interest to do so, orders (the “Order”), BY CONSENT, that:

1. under section 161(1)(d)(ii) of the Securities Act, R.S.B.C. 1996, c. 418 (the “Act”), Tatham be prohibited from becoming or acting as a director or officer of any issuer for a period of two (2) years from the date of the Order; and

2. under section 161(1)(c) of the Act, the exemptions described in sections 44-47, 74, 75, 98 or 99 of the Act do not apply to Tatham for a period of five (5) years from the date of the Order.

DATED at Vancouver, British Columbia, on November 12, 1998.






Michael J. Watson
A/Executive Director






Schedule "A"

IN THE MATIER OF THE SECURITIES ACT
R.S.B.C. 1996, c. 418
AND
IN THE MATIER OF PETER C. TATHAM

AGREED STATEMENT OF
FACTS AND UNDERTAKING


STATEMENT OF AGREED FACTS

1. As a basis for the undertakings and orders set out below, Peter C. Tatham agrees that the following facts are correct:
      (a) Glacier Ventures International Corp., formerly Selkirk Springs International Corp. ("hereinafter Selkirk Springs") is incorporated in British Columbia pursuant to the Company Act, R.S.B.C. 1996, c. 62 and became a reporting issuer under the Securities Act, R.S.B.C. 1996, c. 418 (the "Act") on October 14, 1988. Selkirk Springs' shares are listed in the Vancouver Stock Exchange;

      (b) Peter C. Tatham ("Tatham") bas been a director and officer of Selkirk Springs since on or about August 15, 1991;

      (c) At various times during the period from November, 1992 to September, 1993 (the "Material Period"), Tatham traded in 20 brokerage accounts at nine registrants in British Columbia (the "Accounts"). Fourteen of the Accounts were in his name. Six of the Accounts were in the name of another individual but Tatham bad trading authority over them;

      (d) During the Material Period, Tatham engaged in a pattern of trading between the Accounts and transferring money and securities between the Accounts for the purposes of debit kiting (the "Debit Kiting"). The trading included purchases at prices higher than previous transactions on the same day. Tatham's purpose for Debit Kiting in the Accounts was to generate funds for use by Selkirk Springs in its operations. All funds generated in the accounts during the Material Period were loaned by Tatham to Selkirk Springs;

      (e) The debits in the Accounts were repaid to the registrants in full;

      (f) The operation of the Accounts during the Material Period resulted in a misleading appearance of trading activity and was contrary to the public interest;

      (g) In breach of section 87 of the Act, Tatham did not file insider reports disclosing the trading in the Accounts until requested to do so by the Staff;

      (h) Tatham has cooperated with the Staff of the Securities Commission in the investigation of the matter.

SETTLEMENT TERMS

2. Tatham consents to an Order by the Executive Director pursuant to section 161(1)(d)(ii) of the Act that Tatham is prohibited from becoming or acting as a director or officer of any issuer for a period ending two (2) years from the date of the Order.

3. Tatham consents to an order by the Executive Director pursuant to section 161(1)(c) of the Act that the exemptions described in sections 44-47, 74, 75, 98 or 99 of the Act not apply to Peter C. Tatham for a period ending five (5) years from the date of the Order.

4. Tatham undertakes and consents to pay to the B.C. Securities Commission the sum of $10,000.

5. Tatham waives any right under the Act or otherwise, to a hearing, hearing and review, judicial review or appeal related to or in connection with, or indicated to this agreement and the Order.
        DATED at Vancouver, British Columbia, on October 13, 1998.


    _________________________)
    Witness Signature)
    )
    Gerald A. Cuttler____________)"Peter C. Tatham"__________
    Witness Name (Please Print))Peter C. Tatham
    )
    1000 - 885 W. Georgia______)
    Address)
    )
    Lawyer___________________)
    Occupation)
        DATED at Vancouver, British Columbia, on October 27, 1998.





    Michael J. Watson,
    Executive Director
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