(February 19 – 15:40 ET) – At a hearing today, the Ontario Securities Commission approved a settlement agreement entered into between Staff of the Commission and Lois Doreen King.

King was a principal of Boulder Management Inc.; a firm that managed four closely held investment funds distributed by private placement. The funds managed by Boulder were intended to profit from “convertible hedging”.

King admitted that on several occasions in late 1999, she made inappropriate entries in Boulder’s records, with the effect of overvaluing units of the various funds. King subsequently took steps to try to conceal this misconduct from Boulder’s auditors.

In the settlement agreement, OSC staff acknowledged that King had cooperated fully in the investigation of the matter and had brought about an early settlement. She admitted her misconduct and expressed deep remorse for it.

As a result of the settlement agreement King’s registration is terminated, and she is prohibited from trading in securities for a period of three years from the time she admitted her misconduct. King also received a reprimand from the OSC
-IE Staff