24
Law
Daily business news at www.biv.com September 6–12, 2011
Trouble
DISCIPLINE •Investment
Industry Regulatory Organization of Canada
A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) will meet to consider the appropriate penalty for Melaney Phillips, the regulator announced August 22. In a decision dated June 8, 2011, the panel found that Phillips violated IIROC rules by making unsuitable recommendations for clients, one of whom was a senior in his 80s. The panel also found that Phillips made discretionary purchases in a client account, performed client services for which she was not qualified and sold some of her own shares to a client without ensuring the client obtained the shares at the best available price. Specifically, the panel found that Phillips: • recommended and purchased securities for two clients even though, in both cases, the investments were unsuitable for the clients’ investment objectives and tolerance for risk, contrary to IIROC Rule 1300.1 (q); • made unauthorized discretionary purchases in a client account, contrary to IIROC Rule 1300.4; • prepared tax returns for two clients and charged a fee for those services, without prior approval from her firm and without any formal training or designation, which constitutes conduct unbecoming and detrimental to the public interest, contrary to IIROC Rule 29.1; and • recommended and purchased shares for a client account from her own personal holdings. In doing so, she failed to advise the client that she had an interest in the transaction, which is conduct unbecoming and detrimental to the public interest, contrary
to IIROC Rule 29.1. She also failed to take reasonable steps to ensure her client received the best available price for the shares, contrary to Part 8.1 of the Universal Market Integrity Rules. The violations occurred in 2007 and 2008, while Phillips was a registered representative with the Kelowna, British Columbia branch of Canaccord Genuity Corp., an IIROC-regulated firm. IIROC began its formal investigation into Phillips’ conduct on February 20, 2009. Phillips is no longer registered with an IIROCregulated firm. The hearing will take place September 16. The panel’s decision on penalty will be made available to the public at www.iiroc.ca.
BUYER’S ALERT Companies listed below,
which are not members of the Better Business Bureau, have failed to respond, as of August 26, 2011, to Better Business Bureau of Mainland B.C.’s efforts to mediate complaints from August 15, 2011, to August 19, 2011. In some instances, the company may have taken care of the complaint and considered the matter closed, or may believe the complaint is unjustified; however, if the BBB has not received a response, records cannot reveal either position. Please note that BBB members must respond to customer complaints that are brought to their attention. Source: BBB. 1010 Tires, Richmond 123 Ink Cartridges, Richmond Action Security, Penticton Alliance Ticketing Services, Abbotsford APK Awnings & Signs, New Westminster ASD Telecommunications, West Vancouver Atlasmoneyonline.com, Vancouver Beyond Beauty, Surrey Big Bark Recycling, Prince George Big Jack Enterprises Ltd., Burnaby Biothera Clinics,
Vancouver Broadway Motors Ltd., Chilliwack Busy Bee 1 Hour Cleaners W 6 Ave, Vancouver Canada Pharmacy Online, Surrey Canadian Neighbor Pharmacy, Vancouver Celtic Studio, North Vancouver Chilliwack Motor Inn, Chilliwack Clydesdale Moving, Vernon Coast Solarium & Patio Inc., Langley Cold Cash Today, Vancouver ConsumersReward Solutions, Vancouver ConverseTech, Kelowna Cost Less Appliances, Surrey Custom Cruzers Inc., Surrey Cwc Immigration Solution Inc., Surrey Empire Vehicle Solutions Inc., Surrey Homelite Canada Ltd., New Westminster J & G’s, Prince George J B Laser Technologies Ltd., Surrey James Haworth & Son Ltd., Kelowna Jannat Sleep Centre, Langley Jay’s New & Used Furniture, Vancouver Kal Tire, Burnaby Kamikaze PR, Surrey Konker Motors, Vancouver Ledingham McAllister Properties Ltd., Vancouver LM Gardening Inc., Langley Lucky Employment Agency, Vancouver Mexi-Can Holidays Ltd., Vancouver Mezzi, Richmond Monkey’s Playhouse Early Learning Childcare Centre, Coquitlam Mother of a Sale Inc., Vancouver MVE Cleaning Service, Richmond Nomorerack Retail Group, Vancouver Omni Warranty Corp., Vancouver Pace Realty Corp Property Management, Prince George Star Rebates, Burnaby Unique Marketing, Summerland Urban Behavior, Coquitlam The following companies have responded to the BBB subsequent to being published: Across Canada Van Lines Inc., Vancouver Klahanie Development Ltd., West Vancouver Shaw Cablesystems Ltd., Kelowna
Vancouver Plaintiff: 49th Parallel Roasters Inc. 1800–1095 West Pender St., Vancouver Claim: $320,460 for debt for roasted coffee beans. Defendants: Shuswap Land Services Ltd. and Calvin Cosh and John Harper 2–120 Harbourfront Dr. N.E., Salmon Arm and Bag 9000, 270–190B Tran Canada Hwy., Salmon Arm Plaintiff: Bagicha Singh Teja 2300–550 Burrard St., Vancouver Claim: $174,032 for losses sustained due to the faulty appraisal of a property that was used as security for a mortgage. Defendants: Solaris Wellness Centre Inc. and Lisa Skerritt and Amy Rein 102–2590 Granville St., Vancouver and 8120 Alder Lane, Whistler Plaintiff: Canticlo Investments Inc. 1300–777 Dunsmuir St., Vancouver Claim: $160,987 for debt under a commercial lease. Defendants: Canadian Circuits Inc. and Parveen Arya and Praveen Arya and The Owners, Strata Plan LMS 933 10–13140 88th Ave., Surrey and 12–13140 88th Ave., Surrey and 11–13140 88th Ave., Surrey Plaintiff: Hazco Environmental Services, a division of CCS Corp. 1600–1095 W. Pender St., Vancouver Claim: $153,871 for debt under a contract for decontamination services and materials. Defendant: MacKenzie Sawmill Ltd. 11732 130th St., Surrey Plaintiff: Leavitt Machinery General Partnership dba Leavitt Machinery 1200–925 W. Georgia St., Vancouver Claim: $123,134 for breach of lease contracts; and damages.
filed with the B.C. Supreme Court registry in Vancouver. Information is derived from notices of civil claim. Civil claims have yet to be proven in court.
Defendants: J. Morash & Company Inc. and James R. Morash aka Jim R. Morash and Jim Richard Morash 301–1665 Ellis St., Kelowna and 1415 Menu Rd., Kelowna Plaintiff: Business Development Bank of Canada Box 6, 200–505 Burrard St., Vancouver Claim: $105,293 for debt against J. Morash & Company Inc; enforcement of the general security agreement; an order; $105,293 against James Morash; and all necessary accounts, directions and inquiries.
Defendant: Caffe Artigiano Inc. 1000–840 Howe St.,
Defendants: Sun Kyung Lee and Dongmin Holdings Inc.
Who’s Getting Sued These corporate writs were
6552 Arbutus St., Vancouver and 4–4555 Greenall Ave., Burnaby Plaintiff: Dellos F&B Co. Ltd. 1200–200 Burrard St., Box 48600, Vancouver Claim: $105,019 for a promissory note. Defendants: Montecristo Jewellers Inc. and Ivanhoe Cambridge I Inc. and 7503059 Canada Inc. 600–1090 W. Georgia St., Vancouver and 300–95 Wellington St., Toronto Plaintiff: Halo Art Inc. 9500 Place Jade, Brossard, QC Claim: $92,380 for labour and materials to build Rolex jewellery counters against Montecristo, or damages; a declaration that the plaintiff is entitled to a claim of lien for $92,380; and orders. Defendants: South Island Print Services (2009) Ltd. and Adam Molnar 1–505 Fisgard St., Victoria and 3934 Mimosa Pl., Victoria Plaintiff: Xerox Canada Ltd. 2900–550 Burrard St., Vancouver Claim: $87,921 for debt arising from leases for equipment and services; and $228,464 for breach of contract, or damages. Defendants: Board of Parks and Recreation of the City of Vancouver and Terra Firma Builders Ltd. 453 W. 12th Ave. Vancouver and 560 Fulford-Ganges Rd., Salt Spring Island Plaintiff: Efco Canada Co. 800–1959 Upper Water St., Halifax, NS Claim: $78,428 for debt under a rental agreement for materials for making rammed earth walls as part of a construction project for a new Visitors’ Center at VanDusen Botanical Gardens, and a builders lien for $78,428. Defendants: B.V. Marketing Corp. and Vanessa Hogan aka Vanessa Ellen Hogan and Brandt Hogan 6345 197th St., Langley and 21189 83A Ave., Langley Plaintiff: Royal Bank of Canada Box 5050, Station A, Mississauga, ON Claim: $69,632 for debt against Vanessa Hogan; $38,929 against B.V. Marketing; a declaration that the security agreement is a security interest charging the collateral specified in priority to any right, title or interest of any of the defendants; and $54,394 against Brandt Hogan. Defendant: Crissy Field Media Inc. Address unavailable Plaintiff: Anita Dalakoti 1309 Tyrol Rd., West Vancouver Claim: $69,000 for debt under a loan agreement
and a penalty. Defendants: Renegade Construction Inc. and Trevor Ian Makadahay 9947 100th Ave., Fort St. John and JP2-Doig Reserve, Box 193, Rose Prairie Plaintiff: Fort St. John Co-operative 10808 91st Ave., Fort St. John Claim: $57,484 for debt for fuel products. Defendants: Top Tech Unlimited Motors Inc. and Top Tech Unlimited Accessories Inc. and Deepak Oberoi coba Top Tech Unlimited Inc. and Deepak Oberoi 206–6411 Buswell St., Richmond and 9071 Oakmond Rd., Richmond Plaintiffs: Minglian Holdings Ltd. and 0800705 B.C. Ltd. 300–1501 W. Broadway, Vancouver Claim: $57,114 for rent and rent arrears; and damages. Defendants: Signarama Canada 2010 Inc. and Worldwide Franchise Group Inc. 4–60 Marycroft Ave., Woodbridge, ON Plaintiff: Gowling Lafleur Henderson LLP 23rd floor, 550 Burrard St., Vancouver Claim: $54,867 for debt for legal services. Defendants: Lee Gahr and Roler-Kraz Holdings Ltd. 301–8 Smithe Mews, Vancouver Plaintiff: Dag Consulting Corp. 22–275 E. 13th St., North Vancouver Claim: $40,000 for debt arising from a promissory note, or an order for possession of assets set out in the agreement; and damages. Defendants: Greci Developments Inc. and 0861695 B.C. Ltd. Box 49314, 2600–595 Burrard St., Vancouver and 100–132 14th St., North Vancouver Plaintiff: Gino Crudo and James Pitcher dba Boltz Installations 1150–625 Howe St., Vancouver Claim: $15,626 for the supply of electrical equipment and services against Greci; and a builders lien for $15,626. Defendants: Greci Developments Inc. and 0861695 B.C. Ltd. 100–132 E. 14th St., North Vancouver and Box 49314, 595 Burrard St., Vancouver Plaintiffs: Gino Crudo and Hames Pitcher dba Boltz Installations 1150–625 Howe St., Vancouver Claim: $15,622 for the construction of three duplexes; and a builder’s lien for $15,622. Defendant: Eva Parker aka Shu Yi Eva Parker