Decisions
Richard Wayne Sayler [Reciprocal Order]
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BCSECCOM #:
2011 BCSECCOM 161
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Document Type:
Reciprocal Order
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Published Date:
2011-04-08
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Effective Date:
2011-04-05
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Details:
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2011 BCSECCOM 161
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2011 BCSECCOM 161
Reciprocal Order
Richard Wayne Sayler
Section 161(1) of the Securities Act, RSBC 1996, c. 418
Introduction
¶ 1 This is an order under sections 161(1) and 161(6)(d) of the Securities Act, RSBC 1996, c.418.
Background
¶ 2 Richard Wayne Sayler agreed with the Alberta Securities Commission to be subject to sanctions in a settlement agreement the ASC approved on December 15, 2010 in Sayler, Re, 2010 ABASC 574.
Order
¶ 3 After providing Sayler an opportunity to be heard and considering staff’s submission, and considering it to be in the public interest, we order:
- 1. under section 161(1)(b) of the Act, that Sayler cease trading in, and is prohibited from purchasing, securities and exchange contracts, until December 15, 2020, except that Sayler may trade and purchase securities in accordance with the terms of the ASC settlement agreement;
2. under section 161(1)(c) of the Act, that all of the exemptions set out in the regulations do not apply to Sayler until December 15, 2020, except for those exemptions necessary to enable Sayler to trade and purchase securities in accordance with the terms of the ASC settlement agreement;
3. under section 161(1)(d)(i) and (ii) of the Act, that Sayler resign any position he holds as, and is prohibited until December 15, 2020, from becoming or acting as, a director or officer of any issuer, registrant or investment fund manager; and
4. under section 161(1)(d)(iv) of the Act, that Sayler is prohibited until December 15, 2020, from acting in a management or consultative capacity in connection with activities in the securities market.
¶ 4 April 5, 2011
¶ 5 For the Commission
| Brent W. Aitken Vice Chair | Kenneth G. Hanna Commissioner |