VSE: Koyle, Former
Approved Person Disciplined
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Vancouver Stock Exchange: Koyle, Former Approved Person Disciplined
Following an Exchange Hearing, an Exchange Hearing Panel found that Lawrence Andrew
Koyle ("Koyle"), at the time of the infractions an Approved Person employed by
Georgia Pacific Securities Corporation, had breached Exchange By-Law 5.01(2) and Exchange
Rule F.2.22.2(a) and imposed the following penalties:
1. payment of a fine in the amount of $20,000;
2. a permanent withdrawal of Exchange approval; and
3. an assessment of investigative costs in the amount of $1,100.
By-Law 5.01(2) states in part, that an infraction means any conduct, proceeding or
method of business which is unbecoming or inconsistent with just and equitable principles
of trade or detrimental to the interests of the public.
Rule F.2.22.2(a) states in part, that investment advisors shall not, subject to Rule
F.3.04, handle a discretionary order or exercise any discretion in the handling of an
account.
The panel found that the allegations in three of the four counts against Koyle had been
proven. The panel found that Koyle had executed 78 unauthorized trades, that Koyle
admitted to attempting to hide the trades and to falsify records and that his actions
constituted a planned course of deception of both his clients and his employer.
Copies of the Exchange decision may be obtained from the
Exchange’s Corporate Secretary at 689-3334.
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