Please Note:
This profile was automatically generated using 2 references found on the Internet. This information has not been verified. Learn more...
This profile was automatically generated using 2 references found on the Internet. This information has not been verified. Learn more...
Web References
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1. www.oscbulletin.carswell.com
www.oscbulletin.carswell.com/b - [Cached]Published on: 9/3/2004 Last Visited: 11/21/2004
, In the Matter of Robert Cassels, Murray Hoult Pollitt and Pollitt & Co.
...
ROBERT CASSELS
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(a) whether in the opinion of the Commission, it is in the public interest to make an order or orders against Robert Cassels, pursuant to sections 127(1) and 127.1 of the Act, specifically that:
i) his registration be suspended or restricted for a specified period;
ii) his ability to trade in securities, or the ability to rely on certain exemptions, be prohibited for a specified period;
iii) his ability to act as an officer or director of an issuer be prohibited;
iv) he be reprimanded; and
v) he be ordered to pay costs related to the investigation and hearing.
...
ROBERT CASSELS
...
1. Robert Cassels ("Cassels") is registered in Ontario as an investment counsel and portfolio manager with the firm Cassels Investment Management Inc. ("CIM"). Cassels is an officer and director and holds an approximate 70% ownership interest in CIM. Cassels serves as CIM's Chief Compliance Officer and Ultimate Responsible Person.
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At approximately 3:14 p.m. Cassels spoke to Pollitt and was advised of the terms of the bought deal.
...
15. Following Cassels' discussion with Pollitt, at approximately 3:26 p.m. Cassels called his registered representative (the "RR") at TD Waterhouse.
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During the course of this telephone discussion between Cassels and the RR, the following was stated:
Cassels: ...I'm in a bit of a quandary and I need your guidance with respect to this...this is absolutely confidential because I don't know if I am suppose to know it or not...on Agricore United, that's AU on Toronto, um, I've got 69,750 shares I want to sell them but the reason I want to sell them is that the broker called me and told me there was a convertible issue coming.
RR: Okay
Cassels: I haven't seen that on the wires yet and so I don't know if I'm suppose to know that and so I don't know if I'm trading on inside information.
RR: Well, was it speculation, I mean did he speculate?
Cassels: No, no, he knows.
RR: He knows for sure?
Cassels: He knows for sure and he...
RR: How does he know? And I don't want to know by the way,
Cassels: You and I are in the same position except I own shares and he called me directly to ask if I wanted to buy it
RR: Agricore, well there's news on it here, I mean I...
Cassels: What's the news?
RR: Um, it's not today's news so...
Cassels: Okay, no that's old
RR: How could he know for sure?
Cassels: He's in the underwriting group.
RR: Well, let me see if that is public. I'll just ask around.
Cassels: Uh, no don't ask anyone...it will come out as a new release, will it come out on Dow Jones the fastest or on Reuters?
RR: Dow, Bloomberg...if you don't want to sell ahead of it then that's fine.
Cassels: Well, I don't think I'm suppose to, do you?
...
Cassels: Yeah, they have
...
Cassels: No this is not an income trust this is just a convertible which is usually hard on stock prices, right?
RR: Yeah.
Cassels: Okay so anyway, I've got 69,750 to sell
...
Cassels: I'm pretty aggressive in front of a convertible uh, it's currently bid about 6 bucks. I'd start right here and uh..
RR: Well I have no knowledge of this stuff, so you're talking to somebody whose ignorant...so you know...
Cassels: Yeah, normally if someone tells you...
...
Cassels: No it's not going up.
...
Cassels: I don't know what the lower limit is...um
RR: Alright. Okay, let me come back.
Cassels: And maybe we just have to go on the market but maybe you could get a bid for it, I don't know.
RR: Sure, I'll find out.
Cassels: Okay thanks...Oh will you call me on my cell...
RR: Perfect.
16. Further to Cassels' instructions, at approximately 3:30 p.m. a sell ticket was issued by the RR to sell 69,750 shares of Agricore on behalf of CIM. At approximately 3:32 p.m. 3,700 shares offered for sale by CIM were sold on the market at $6.00. Subsequent to this trade taking place, at approximately 3:34 p.m. the RR spoke with his superior in respect of the propriety of the order placed by Cassels. Immediately following this conversation, at 3:38 p.m. the RR called Cassels and left a message advising that he did not think he could go ahead and sell the stock without further clarification in respect of the information known to Cassels.
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a) Cassels acted contrary to the public interest by selling shares of Agricore with knowledge of a material fact which had not been generally disclosed, contrary to s.76(1) of the Act;
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In the Matter of Robert Cassels, Murray Hoult Pollitt and Pollitt & Co. Inc.
...
IN THE MATTER OF ROBERT CASSELS, MURRAY HOULT POLLITT AND POLLITT & CO.
...
TORONTO -- The Ontario Securities Commission issued a Notice of Hearing and Statement of Allegations today pursuant to s.127 of the Ontario Securities Act in respect of the conduct of Robert Cassels, Murray Hoult Pollitt and Pollitt & Co. -
2. oscbulletin.carswell.com
oscbulletin.carswell.com/bb/os - [Cached]Published on: 9/3/2004 Last Visited: 10/6/2004
• In the Matter of Robert Cassels, Murray Hoult Pollitt and Pollitt & Co.
...
ROBERT CASSELS
...
(a) whether in the opinion of the Commission, it is in the public interest to make an order or orders against Robert Cassels, pursuant to sections 127(1) and 127.1 of the Act, specifically that:
i) his registration be suspended or restricted for a specified period;
ii) his ability to trade in securities, or the ability to rely on certain exemptions, be prohibited for a specified period;
iii) his ability to act as an officer or director of an issuer be prohibited;
iv) he be reprimanded; and
v) he be ordered to pay costs related to the investigation and hearing.
...
ROBERT CASSELS
...
1. Robert Cassels ("Cassels") is registered in Ontario as an investment counsel and portfolio manager with the firm Cassels Investment Management Inc. ("CIM"). Cassels is an officer and director and holds an approximate 70% ownership interest in CIM. Cassels serves as CIM's Chief Compliance Officer and Ultimate Responsible Person.
...
At approximately 3:14 p.m. Cassels spoke to Pollitt and was advised of the terms of the bought deal.
...
15. Following Cassels' discussion with Pollitt, at approximately 3:26 p.m. Cassels called his registered representative (the "RR") at TD Waterhouse.
...
During the course of this telephone discussion between Cassels and the RR, the following was stated:
Cassels: ...I'm in a bit of a quandary and I need your guidance with respect to this...this is absolutely confidential because I don't know if I am suppose to know it or not...on Agricore United, that's AU on Toronto, um, I've got 69,750 shares I want to sell them but the reason I want to sell them is that the broker called me and told me there was a convertible issue coming.
RR: Okay
Cassels: I haven't seen that on the wires yet and so I don't know if I'm suppose to know that and so I don't know if I'm trading on inside information.
RR: Well, was it speculation, I mean did he speculate?
Cassels: No, no, he knows.
RR: He knows for sure?
Cassels: He knows for sure and he...
RR: How does he know? And I don't want to know by the way,
Cassels: You and I are in the same position except I own shares and he called me directly to ask if I wanted to buy it
RR: Agricore, well there's news on it here, I mean I...
Cassels: What's the news?
RR: Um, it's not today's news so...
Cassels: Okay, no that's old
RR: How could he know for sure?
Cassels: He's in the underwriting group.
RR: Well, let me see if that is public. I'll just ask around.
Cassels: Uh, no don't ask anyone...it will come out as a new release, will it come out on Dow Jones the fastest or on Reuters?
RR: Dow, Bloomberg...if you don't want to sell ahead of it then that's fine.
Cassels: Well, I don't think I'm suppose to, do you?
...
Cassels: Yeah, they have
...
Cassels: No this is not an income trust this is just a convertible which is usually hard on stock prices, right?
RR: Yeah.
Cassels: Okay so anyway, I've got 69,750 to sell
...
Cassels: I'm pretty aggressive in front of a convertible uh, it's currently bid about 6 bucks. I'd start right here and uh..
RR: Well I have no knowledge of this stuff, so you're talking to somebody whose ignorant...so you know...
Cassels: Yeah, normally if someone tells you...
...
Cassels: No it's not going up.
...
Cassels: I don't know what the lower limit is...um
RR: Alright. Okay, let me come back.
Cassels: And maybe we just have to go on the market but maybe you could get a bid for it, I don't know.
RR: Sure, I'll find out.
Cassels: Okay thanks...Oh will you call me on my cell...
RR: Perfect.
16. Further to Cassels' instructions, at approximately 3:30 p.m. a sell ticket was issued by the RR to sell 69,750 shares of Agricore on behalf of CIM. At approximately 3:32 p.m. 3,700 shares offered for sale by CIM were sold on the market at $6.00. Subsequent to this trade taking place, at approximately 3:34 p.m. the RR spoke with his superior in respect of the propriety of the order placed by Cassels. Immediately following this conversation, at 3:38 p.m. the RR called Cassels and left a message advising that he did not think he could go ahead and sell the stock without further clarification in respect of the information known to Cassels.
...
a) Cassels acted contrary to the public interest by selling shares of Agricore with knowledge of a material fact which had not been generally disclosed, contrary to s.76(1) of the Act;
...
In the Matter of Robert Cassels, Murray Hoult Pollitt and Pollitt & Co. Inc.
...
IN THE MATTER OF ROBERT CASSELS, MURRAY HOULT POLLITT AND POLLITT & CO.
...
TORONTO -- The Ontario Securities Commission issued a Notice of Hearing and Statement of Allegations today pursuant to s.127 of the Ontario Securities Act in respect of the conduct of Robert Cassels, Murray Hoult Pollitt and Pollitt & Co.
