Settlements
Harold T. Hope Investment Services Ltd., et al. [Agreed Statement]
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BCSECCOM #:
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Document Type:
Agreed Statement
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Published Date:
1991-08-09
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Effective Date:
1991-06-28
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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 Harold T. Hope Investment Services Ltd.
AND IN THE MATTER OF Harold Taylor Hope
Agreed Statement of Facts and Undertaking
W.D. Nesmith
June 28, 1991
AGREED STATEMENT OF FACTS AND UNDERTAKING:-- The following agreement has been reached between Harold Taylor Hope ("Hope") and the Superintendent of Brokers:
| 1. |  | As the basis for the undertaking referred to in this agreement Hope acknowledges the following facts as correct: | |
| (a) | | 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 Securities Act, S.B.C. 1985, c. 83 (the "Act"); | |
| (b) | | Hope is the president of the company and is registered as its trading director under the Act; | |
| (c) | | the company and Hope offered for sale to the public various investment opportunities including participation in a pooled mutual fund trust; | |
| (d) | | between 1987 and 1990 (the "material time") Hans Merkelbag (also known as Hans Merkelbach) ("Merkelbag") recommended to his friends and associates (the "investors") certain investment opportunities offered by the company especially participation in a pooled mutual fund trust; | |
| (e) | | 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; | |
| (f) | | Merkelbag was paid a 1% finders fees by the company for the clients he referred to it; | |
| (g) | | at the material time Merkelbag was not registered under the Act in any capacity, | |
| (h) | | Merkelbag, by providing advice and referring the investors to the company to complete the purchase of the investments was acting as an advisor and was trading in securities in contravention of section 20 of the Act; | |
| (i) | | Hope knew or ought to have known that Merkelbag was not registered under the Act as an advisor or to trade in securities; and | |
| (j) | | Hope by not ensuring that Merkelbag was duly registered under the Act, failed to provide adequate supervision concerning the trading of securities facilitated or completed through the company. | |
| 2. | | Hope waives any requirements 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. | | Hope acknowledges that he has failed to provide adequate supervision of trading carried on through the company and hereby undertakes to ensure that all persons using the facilities of the company to directly or indirectly effect sales of securities are registered as required by the provisions of the Act. | |
| 4. | | Hope agrees to pay the sum of $1,500.00 to the Minister of Finance and Corporate Relations of the Province of British Columbia. | |
| DATED at Vancouver, British Columbia, on June 24, 1991. | |
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| Witness ) | | | |
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| ) | | "Harold Taylor Hope" | |
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| Address ) | | | |
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W.D. NESMITH
Superintendent of Brokers