BCSC

Settlements

Mark Webster Vaughan Foster [Variation Order]

BCSECCOM #: 2014 BCSECCOM 75	Document Type: Variation Order
Published Date: 2014-02-28	Effective Date: 2014-02-28
Details:

2014 BCSECCOM 75

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Variation Order

Mark Webster Vaughan Foster

Section 171 of the Securities Act, RSBC 1996, c. 418 (the Act)

Background

¶ 1 On May 13, 2002, Mark Webster Vaughan Foster (Foster) entered into a Settlement Agreement with the Executive Director (2002 BCSECCOM 392) (the Agreement) in connection with an illegal distribution and misrepresentations made in an Offering Memorandum (OM) of Specialized Surgical, contrary to section 61 and 50(1(d) of the Act.

¶ 2 Under the Agreement, Foster consented to an Order (2002 BCSECCOM 391) (the Settlement Order) requiring him to resign and prohibiting him from becoming or acting as a director or officer of any issuer; until the expiry of 12 years after Foster satisfies certain conditions.

¶ 3 Foster has applied to vary the Settlement Order and Commission Staff support the application.

The Order

¶ 4 Under section 171 of the Act, the Executive Director, considering that it is not prejudicial to the public interest, varies paragraph 3 of the Settlement Order, to read as follows:

Under section 161(1)(d) of the Act, Foster resign any position that he holds as a director and officer of any issuer and is prohibited from becoming or acting as a director or officer of any issuer except:

• Lion Rock Developments Corporation;

• Lion Rock Developments Shiloh Place Corporation;

• Lion Rock Developments Royal Heights Corporation;

• Lion Rock Developments The River Corporation;

• Lion Rock Developments RHBC Corporation; and

• Foster First Solutions Corporation,

provided these companies do not raise money from investors.

¶ 5 February 28, 2014

Paul Bourque

¶ 6 Paul C. Bourque, Q.C.

Executive Director