Replies to post #110973 on 8000 Incorporated (EIGH)

[janice shell]

Ouch. But of course neither of them will pay anything...

[scion]

C. Appropriate Orders

Market and Trading Bans

[66] It is a privilege, not a right, to participate in the capital markets.

[67] The activities of each of McLeary, Hainey and Williams were key to carrying out the Sungro manipulation. All three of them were active capital market participants at the time of the manipulation. McLeary’s contravention of section 168.1(1)(a) is also a serious contravention and demonstrates his lack of integrity.

[68] The continued participation of any of McLeary, Hainey and Williams in our capital markets presents a significant ongoing risk to investors and those markets. For this reason we have ordered permanent prohibitions against each of them under sections 161(1)(b)(ii), (c) and (d).

[...]

[86] The orchestrated nature of the Sungro manipulation resulted in the rapid increase of the share price of a virtually worthless company and the opportunity for McLeary, Hainey and Williams to make further profit from the sale of McLeary’s and Hainey’s remaining free Sungro shares. Given these circumstances, it is appropriate for reasons of both specific and general deterrence to assess a significant administrative penalty against each of McLeary, Hainey and Williams. Given their equal culpability and considering it to be in the public interest, we order each of McLeary, Hainey and Williams to pay an administrative penalty of $700,000 for their respective contraventions of section 57(a).

http://www.bcsc.bc.ca/Enforcement/Decisions/PDF/2015_BCSECCOM_281/

[EarnestDD]

Hainey and Williams
9. under section 161(1)(b)(ii), that Hainey and Williams are permanently prohibited
from trading or purchasing securities or exchange contracts;
10. under section 161(1)(c), that any or all of the exemptions set out in the Act,
regulations or a decision do not apply to Hainey or Williams;
11. under section 161(1)(d)(i) and (ii), that each of Hainey and Williams resign any
position he holds as, and is permanently prohibited from becoming or acting as, a
director or officer of any issuer or registrant;
12. under section 161(1)(d)(iii), Hainey and Williams are permanently prohibited
from becoming or acting as a registrant or promoter;
13. under section 161(1)(d)(iv), that Hainey and Williams are permanently prohibited
from acting in a management or consultative capacity in connection with
activities in the securities market;
14. under section 161(1)(d)(v), that Hainey and Williams are permanently prohibited
from engaging in investor relations activities; and
15. under section 162, that:
? Hainey pay to the Commission an administrative penalty of $700,000; and
? Williams pay to the Commission an administrative penalty of $700,000.
July 8, 2015
For the Commission