ENFORCEMENT SUMMARY
In the Matter of The Securities Act
and in the Matter of Michael Birch
Charges:
On June 8, 2001, Judge Smith of the Provincial Court of Manitoba accepted the guilty plea of Michael Birch ("Birch") to one count of trading without registration and one count of trading without prospectus.
Summary:
Birch was a Director, Chairman of the Board of Directors, and a shareholder of First Nations Group Ltd. (the "company"). Birch verbally provided information to a gentleman about investing in the company. The gentleman purchased 20,000 shares at a cost of $10,000.00. Neither Birch nor First Nations Group Ltd. were registered under the Act to trade in securities in Manitoba. No prospectus had been filed with the Commission nor had any exemptions been used, applied for, or granted.
Sentence:
Birch was sentenced on September 28, 2001. At the time of sentencing, Birch was in the process of making full restitution in the amount of $10,000.00 to the investor. Judge Ashdown accepted the joint recommendation of a fine in the amount of $400.00 per count for a total fine of $800.00. Costs and surcharges were assessed. Time to pay was two weeks.
The Manitoba Securities Commission
October 23, 2001.