Re: SLI Website
in response to
by
Welcome To the WIN!!! St. Elias Mines HUB On AGORACOM
Keep in mind, the opinions on this site are for the most part speculation and are not necessarily the opinions of the company WITHOUT PREJUDICE
Message: Re: SLI Website
Its odd that BDF,s post cant be replied to? All other posts on this board, can be replied to, why is his like that? Anyway, its plain to see in BDF post that it was the institutions fault and NOT Mr Rainbirds, Mr Rainbird was merely doing his job and I would say he was used as a scapegoat, among others in this incident. It has been proven time after time, that the toxic paper was made by someone other than the ones that had to sell it as per their jobs.
Here is BDF post again below;
Re: SLI Website
in response toSLI Websitebymolson200
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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