Vol.6, No. 12 – December 2010Association of Professional Engineers & Geoscientists of BC
Suspended and Practice Restricted – Duncan Bain, P.Geo., London, ON
The Association received a complaint from the BC Securities Commission regarding two mineral disclosure reports Mr. Bain had authored for a company trading on the Over the Counter Bulletin Board. The Securities Commission alleged that Mr. Bain failed to meet his duties as a “Qualified Person” in that his reports did not comply with National Instrument 43-101 Standards of Disclosure for Mineral Projects in material respects. The complaint was investigated and the Association’s Investigation Committee recommended a disciplinary inquiry be held.
In lieu of proceeding to an inquiry, Mr. Bain has signed a Consent Order admitting the allegations in the Notice of Inquiry and agreeing to the following penalty:
Mr. Bain’s membership in the Association is suspended for six months commencing December 31, 2010;
Any NI 43-101 reports prepared by Mr. Bain between November 23, 2010 and the commencement of his suspension must be peer reviewed by a professional geoscientist approved in advance by APEGBC’s Registrar; and
Prior to June 30, 2010, Mr. Bain must:
Write and pass the Association’s Professional Practice Examination;
Take a course approved by the Registrar on the duties and responsibilities of a “qualified person” under NI 43-101; and
Pay $5,000.00 towards the Association’s investigation and legal costs.
If Mr. Bain fails to comply with any of the above conditions, he will remain or be suspended until all the conditions have been met.
A copy of the Consent Order can be found on the APEGBC website under “Discipline and Enforcement." Further information on the investigation and discipline processes can also be obtained by contacting Bev Mitovic, Compliance Officer, APEGBC at bmitovic@apeg.bc.ca or (604) 412-4869 or toll-free at 1-888-430-8035 ext. 4869.
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