Settlements
Hans Merkelbag [Agreed Stmt]
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BCSECCOM #:
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Document Type:
Agreed Stmt
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Published Date:
1991-08-09
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Effective Date:
1991-06-26
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Details:
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IN THE MATTER OF The Securities Act, S.B.C. 1985, c. 83
AND IN THE MATTER OF Hans Merkelbag
Agreed Statement of Facts and Undertaking
W.D. Nesmith
June 26, 1991
AGREED STATEMENT OF FACTS AND UNDERTAKING:-- The following agreement has been reached between Hans Merkelbag (a.k.a. Hans Merkelbach) ("Merkelbag") and the Superintendent of Brokers:
1. |  | As the basis for the undertaking referred to in this agreement Merkelbag acknowledges the following facts as correct: | |
(a) | | Merkelbag is licensed as a life insurance salesman and is currently employed with Zurich Life Insurance Company; | |
(b) | | Merkelbag has been registered as a mutual fund salesman under the Securities Act S.B.C. 1985, c. 83 (the "Act") between the years 1962 and 1965; | |
(c) | | Merkelbag's registration under the Act terminated in 1965 and he has not been registered in any capacity since that date; | |
(d) | | Harold T. Hope Investment Services Ltd. ("the Company") is a corporation incorporated under the British Columbia Company Act and is registered as a mutual fund dealer under the Act; | |
(e) | | Harold T. Hope ("Hope") is the president of the Company and is registered as its trading director under the Act; | |
(f) | | the Company and Hope offered for sale to the public various investment opportunities including participation in a pooled mutual fund trust; | |
(g) | | between 1987 and 1990 Merkelbag recommended to his friends and clients (the "Investors") the purchase of units in the pooled mutual fund trust (the "Investments") offered by the Company; | |
(h) | | Merkelbag referred the Investors to an employee of the Company who assisted the Investors in completing the appropriate application forms and accepted payment for the Investments purchased; | |
(i) | | Merkelbag was paid a 1% finders fee by the Company for the clients he referred to it; | |
(j) | | by recommending the purchase of the Investments to the Investors, Merkelbag acted as an advisor without being registered under the Act in contravention of section 20 of the Act; | |
(k) | | by soliciting the Investors, recommending the purchase of the Investments and referring the Investors to the Company to complete the purchase, Merkelbag was acting in a manner which directly or indirectly was in furtherance of a disposition of a security and thus traded in securities; and | |
(l) | | Merkelbag traded in securities without being registered under the Act in contravention of section 20 of the Act. | |
2. | | Merkelbag waives any requirement of a hearing under section 144(1) of the Act and any right he may have to a hearing and review under section 147(3) of the Act. | |
3. | | Merkelbag acknowledges that he breached the requirements of section 20 of the Act and hereby undertakes to obtain legal and other professional advice as necessary to ensure compliance with the requirements of the Act and the Regulation. | |
4. | | Merkelbag agrees to pay the sum of $3,000.00 to the Ministry of Finance and Corporate Relations of British Columbia. | |
| DATED at Vancouver, British Columbia, on June 26, 1991. | |
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Witness ) | | | |
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) | | "Hans Merkelbag" | |
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Address ) | | | |
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W.D. NESMITH
Superintendent of Brokers