The British Columbia superintendent of brokers consented to the stay of a one-year trading ban recently imposed on Murray Pezim, John Ivany and Lawrence Page until Jan. 11, 1991. The ban was to begin on Jan. 1. The trading ban was imposed by the British Columbia Securities Commission after a hearing investigated the conduct of Pezim, Page and Ivany when they were senior management of Calpine Resources and Prime Resources. It was found that the three men contravened disclosure requirements during a period in 1989 when drilling was taking place on the Eskay Creek property north of Stewart, B.C.
The stay was granted on the understanding that the three men make application for leave to appeal the decision and any consequential stay together on Jan. 9 or 10, 1991.
In a separate but related matter, the Vancouver Stock Exchange accepted an offer of settlement in a disciplinary matter with the former firm Canarim Investment, now L.O.M. Western Securities.
Although denying the facts were material to the function of the exchange, Canarim agreed to pay a $50,000 fine and about $10,000 in costs for failing to notify the Vancouver Stock Exchange when part of a 1989 financing for Prime Resources fell through.
As part of the resolution of the matter, Peter Brown, Canarim chief executive officer, acknowledged that he should have notified the exchange of the events in a timely manner.
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