BCSC

Settlements

MICHAEL JOHN CRAMER [Agreed Stmt]

BCSECCOM #:	Document Type: Agreed Stmt
Published Date: 1997-06-13	Effective Date: 1997-06-10
Details:

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

AND

IN THE MATTER OF MICHAEL JOHN CRAMER

Agreed Statement of Facts and Undertaking

The following agreement has been reached between Michael John Cramer (“Cramer”) and the Executive Director:

1. As the basis for the undertakings referred to in paragraphs 2 and 3 of this agreement, Cramer acknowledges the following facts as correct:

(a) Cramer is currently registered as a Full Securities Salesperson pursuant to section 34 of the Securities Act, R.S.B.C. 1996, c. 418 (the “Act”) with Vantage Securities Inc.;

(b) Cramer was registered as a Mutual Fund Salesperson pursuant to section 34 of the Act with F.P.C. Investments Inc. (“F.P.C.”) from March 15, 1990 to May 18, 1994;

(c) Cramer, while registered with F.P.C., arranged for at least three of his clients to enter into leveraged loan agreements at various times in 1993 (the “Leveraged Loans”) and purchased mutual funds on behalf of those clients with the proceeds of the Leveraged Loans; and

(d) Cramer failed to deliver the required disclosure document with respect to the Leveraged Loans to the three clients at the time of their purchase of mutual funds, contrary to Notice & Interpretation Note #87/67, titled “Leveraged Mutual Fund Purchases”.

2. Cramer undertakes to fully comply with the Act, Securities Rules, B.C. Reg. 479/95, and all other applicable securities legislation.

3. Cramer undertakes to pay the British Columbia Securities Commission the sum of $750.00.

4. Cramer waives any right he may have, under the Act or otherwise, to a hearing, hearing and review, judicial review or appeal related to, in connection with or incidental to the agreement and any related orders.

DATED at Prince George, British Columbia, on June 4, 1997.

__________________________	)
Witness Signature	)
	)
Mark Cramer_______________	)
Witness Name	)	_____________________
401 - 1777 - 3rd Avenue	)	Michael John Cramer
Prince George, B.C. V2L 3G7_	)
Address	)
	)
Financial Planner___________	)
Occupation	)

DATED at Vancouver, British Columbia, on June 10, 1997.

Paul C. Bourque
Executive Director