VANCOUVER, Jan. 2 /CNW/ - A British Columbia Securities Commission panel
has fined a North Vancouver businessman $200,000 and permanently banned him
from participating in the province's capital markets for breaching a
In 1999, after admitting to contraventions of the Securities Act when he
was a director and officer of Arakis Energy Corporation, James Terrence
Alexander paid the BCSC $1.2 million and consented to an order prohibiting him
from being a director or officer of any issuer, engaging in investor relations
activities, and trading in securities, for 20 years.
In 2005, a B.C. provincial court judge convicted Alexander of breaching
the 1999 order by acting as a director and officer of four private companies,
and fined him $2,000.
On October 24, 2007, a commission panel found that Alexander contravened
the order when he acted as a director and officer of seven companies, and when
he engaged in investor relation activities for one of the seven companies. The
panel also found that Anne Christine Eilers acted contrary to the public
interest when she assisted Alexander to breach the order by allowing him to
direct the affairs of JT Alexander and Associates Holding Corporation while
she was its sole director and officer of record.
In addition to imposing an administrative penalty of $200,000, the panel
permanently prohibited Alexander, with limited exceptions, from trading or
purchasing securities, from becoming or acting as a director or officer of any
issuer, and from engaging in investor relations activities.
For her role in assisting Alexander to breach the order, the panel
prohibited Eilers from becoming or acting as a director or officer of any
issuer (except one she owns) for one year. She must also complete a course on
the duties and responsibilities of directors and officers.
The B.C. Securities Commission is the independent provincial government
agency responsible for regulating trading in securities in the province. You
may view the decision on our website www.bcsc.bc.ca by typing in the search
box, James Terrence Alexander or Anne Christine Eilers or 2007 BCSECCOM 773.
If you have questions, contact Ken Gracey, Media Relations, 604-899-6577.
Learn how to avoid investment fraud at the BCSC's investor education
For further information:
For further information: Ken Gracey, (604) 899-6577 or (B.C. & Alberta)