ENFORCEMENT SUMMARY
IN THE MATTER: The Securities Act (the "Act")
AND IN THE MATTER OF: ROBERT SYME
CHARGES
On March 24, 2005, Robert Syme ("Syme") pled guilty in the Provincial Court of Manitoba to five counts in trading in securities without registration.
SUMMARY
The charges pertain to trades to five different investors. The offences took place in 2000. The five investors invested various amounts with Syme for the purchase of shares in a company to be incorporated, namely Microbex Ltd. The amounts invested varied from $2,000.00 to $10,000.00 with the total amount invested being $21,500.00. The Microbex shares being sold by Syme were shares that were to be allocated to him by Microbex for work he had done to start up the company. Syme traded in the shares prior to the incorporation of Microbex Ltd. Syme acknowledged that he was not registered to trade in securities and that no exemptions were applicable for the foregoing trades. Although Microbex Ltd. was subsequently incorporated, the investors did not receive shares in the company nor their money back.
SENTENCE
Syme was sentenced on May 12, 2005 before Judge Guy of Provincial Court of Manitoba. A joint recommendation was made for a fine of $4,000.00 which the court imposed. Costs and applicable surcharges were waived and Syme was given until December 31, 2006 to pay the fine.
The Manitoba Securities Commission
June 30, 2005