Re: SLI Website
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Welcome To the WIN!!! St. Elias Mines HUB On AGORACOM
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Message: Re: SLI Website
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Right on Molson,
Talk about frivolous, childish and vindictive! Sick! More smoke and mirrors.
People should read the "charges" against not only Mr. Rainbird but also the other four gentlemen who were under the same blanket charges here.
It behooves all shareholders to read the charges and note that, IMO, the lion's share of culpability laid with their empoyer, Farm Mutual Financial Services. Maybe I'm naive and "totally green" but if you read the charges you'll wonder,"Gee! how was the company disciplined?" Who oversaw the colusion here? Was lack of training the real culprit here? Note the last 3 lines of the excerpt below.
Here's a small sample from the report of proceedings in 2010
"By-Laws, Rules, Policies Violated
The Hearing Panel considered the Settlement Agreements at a hearing held on
July 6, 2010 in Toronto. In the Settlement Agreements, Corner, Halladay,
Moore, Rainbird and Hanson admitted that:
Between June 25, 2003 and April 1, 2007, they, in their capacity as Approved
Persons of Farm Mutual Financial Services Inc. (“Farm Mutual”), conducted
sales of exempt securities – specifically FactorCorp Financial Inc.
(“FactorCorp”) debentures – using training and information provided by their
Member, Farm Mutual, and as a result of deficiencies in that training and
information they sold FactorCorp debentures to clients who did not qualify as
accredited investors in accordance with Ontario Securities Commission Rule
45-501 and subsequently National Instrument 45-106 and to clients whose
risk tolerance was less than high, thereby contravening MFDA Rule 2.1.1(c)
Page 2 of 9
and thereby engaging the jurisdiction of the Hearing Panel to impose a
penalty on them pursuant to s. 24.1.1(h) of MFDA By-law No. 1.
Farm Mutual has previously been disciplined for deficiencies in its due
diligence assessment of FactorCorp debentures, deficiencies in its approval of
FactorCorp debentures for sale to clients, and deficiencies in its supervision
of such sales, including its failure to conduct second-tier supervisory
reviews.
1 Corner’s, Halladay’s, Moore’s, Rainbird’s and Hanson’s
contraventions, as admitted to above, occurred in the context of those
deficiencies and, in large part, as a result of those deficiencies."
Discipline taken was administered to all five gentlemen. They paid the bill so let's get on with things.
I don't know if or how that compnay was disciplined for lack of due diligence but sure am waiting to see what's going to happen with our company's current leaders for what they've done for(to) us. Keep up the fight.
BDF
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