Settlements
WAH BO CHEW [Agreed Stmt]
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BCSECCOM #:
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Document Type:
Agreed Stmt
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Published Date:
1997-01-31
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Effective Date:
1997-01-22
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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 WAH BO CHEW
Agreed Statement of Facts and Undertaking
The following agreement has been reached between Wah Bo Chew (“Chew”) and the Executive Director:
1. As a basis for the undertaking referred to in paragraphs 2 and 3 of this agreement, Chew acknowledges the following facts as correct:
(a) Chew has been registered since September 1, 1987 and was registered as a salesperson (restricted to trading mutual fund securities) with Ascot Financial Services Limited (“Ascot”) from May 25, 1994 to July 6, 1996;
(b) In October 1994, Chew incorporated a private company Chartwell Financial Inc. (“Chartwell”) for personal reasons;
(c) In November 1994, while registered through Ascot, Chew sent out advertisements using Chartwell stationery that lead the public to believe that Chartwell was registered under the Securities Act contrary to section 38 of the Securities Act;
(d) In November 1994 the Commission was advised that this deficiency was corrected;
(e) In July 1996, Chartwell was registered as a mutual fund dealer under the Act and Chew transferred his registration from Ascot to Chartwell.
(f) In November 1996, Chew used stationery of Chartwell that indicated the mutual funds license was sponsored by Ascot contrary to section 37 of the Securities Act;
2. Chew undertakes to pay to the order of the B.C. Securities Commission the sum of $2,000.00 on the execution of this agreement.
3. Chew undertakes to destroy all stationery of Chartwell that makes reference to Ascot and to comply with the Act.
4. Chew waives any right he may have, under the Act or otherwise, to a hearing, hearing and review, judicial review or appeal relating to, in connection with or incidental to this agreement.
Dated at Surrey, British Columbia, on January 22, 1997
Tom Lang__________________________
Witness
___________________________________ Wah Bo Chew
6215 Ewart Street, Burnaby,B.C. V5J 2X4
Address
DATED at Vancouver, British Columbia, on January 22 , 1997.
Paul C. Bourque
Executive Director