Notices of Hearing & Temporary Orders

MICHAEL NORMAN KOPEC [Sec. 161]

BCSECCOM #:
Document Type:
Sec. 161
Published Date:
1999-01-15
Effective Date:
1999-01-11
Details:


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

AND

IN THE MATTER OF MICHAEL NORMAN KOPEC


Notice of Hearing Under Section 161


1. TAKE NOTICE that a hearing will be held at the 7th Floor Hearing Room, 865 Hornby Street, Vancouver, British Columbia, (the “Hearing”) to give the Respondent, Michael Norman Kopec (“Kopec”) an opportunity to be heard before the British Columbia Securities Commission (the “Commission”) considers whether it is in the public interest:
      1.1 to make an order under section 161(1)(c) of the Securities Act, R.S.B.C. 1996, c. 418 (the “Act”) that any or all of the exemptions described in sections 44 to 47, 74, 75, 98 or 99 of the Act do not apply to Kopec;

      1.2 to make an order under section 161(1)(d) of the Act that Kopec resign any position he holds as a director or officer of any issuer and be prohibited from becoming or acting as a director or officer of any issuer;

      1.3 to make an order under section 161(1)(b) of the Act that Kopec is prohibited from engaging in investor relations activities;

      1.4 to make an order under section 162 of the Act that Kopec pay an administrative penalty;

      1.5 to make an order under section 174 of the Act that Kopec pay the prescribed fees or charges related to the Hearing; and

      1.6 to make any other orders as may be appropriate under the circumstances;
2. AND TAKE NOTICE that the Commission will be asked to consider the following facts and allegations in making its determination:
      2.1 Glacier Ventures International Corp. (hereinafter “Glacier”), formerly Selkirk Springs International Corp. (“Selkirk Springs”) was incorporated in British Columbia pursuant to the Company Act, R.S.B.C., 1996, c. 62 on March 23, 1988 and became a reporting issuer under the Act on October 14, 1988. Glacier’s shares are listed on the Vancouver Stock Exchange;

      2.2 Peter C. Tatham (“Tatham”) has been a director and officer of Glacier since on or about August 15, 1991;

      2.3 Kopec is a Chartered Accountant licensed to practice in British Columbia, and was the personal accountant to Tatham since 1991 and an accounting consultant to Glacier since early 1993;

      2.4 between January, 1993 and September, 1993 (the “Relevant Period”) Tatham traded in the securities of Glacier through 19 brokerage accounts at nine different registrants in British Columbia (the “Accounts”);

      2.5 fourteen of the Accounts were in Tatham’s name and five of the accounts were in Kopec’s name;

      2.6 originally Kopec took his trading instructions in the Accounts from Tatham;

      2.7 Tatham had trading authority over the Accounts in Kopec’s name during the Relevant Period;

      2.8 Tatham engaged in a pattern of “debit kiting” between the Accounts during the Relevant Period. Kopec permitted or acquiesced in the use of the Accounts in his name for this debit kiting;

      2.9 in October, 1993, after Kopec had cancelled Tatham’s trading authority over the Accounts in his name, Kopec carried out two matched trades at Tatham’s instructions;

      2.10 the trading in the Accounts during the Relevant Period, and the two matched trades in October, 1993, resulted in a misleading appearance of trading activity in, or an artificial price for, the securities of Glacier contrary to section 57(a) of the Act, and was contrary to the public interest;

      2.11 Kopec knew or ought reasonably to have known that he was participating in prohibited transactions contrary to section 57(a) the Act;
3.0 AND TAKE NOTICE that Kopec may be represented by counsel at the Hearing and may make representations and lead evidence. Kopec is requested to advise the Commission of his intention to attend the Hearing by contacting the Secretary to the Commission at 1200 - 865 Hornby Street, Vancouver, BC V6Z 2H4;

4.0 AND TAKE NOTICE that determinations may be made in this matter if Kopec does not appear at the Hearing;

5.0 TAKE NOTICE that Kopec is required to attend at the 7th floor Hearing Room on January 15, 1999 at 9:00 a.m. if he wishes to be heard before the Commission to fix a date for the Hearing.


DATED at Vancouver, British Columbia, on January 11, 1999.





Michael J. Watson
Executive Director
©2026 British Columbia Securities Commission