(October 15 – 14:30) – A British
Columbia Securities Commission
panel today imposed trading
sanctions against Russell James
Bennett and Harbanse Singh Doman
and ordered them, along with
former B.C. premier William Bennet,
to pay the commission $1 million
to cover the costs of an insider
trading case that spanned
11 years.
In a consent order issued today,
the panel also ordered Doman to
resign as president and chairman
of the forest company Doman
Industries for eight months,
starting Oct. 26, 1999. “After that
period, he may not hold the
positions of chief executive
officer and chairman at the same
time until Oct. 25, 2009, and his
appointment to either position
must be recommended to the board
of directors of Doman by an
independent corporate governance
committee of the board,” the
commission said.
Doman is also prohibited for a
10 year period, effective Oct.
26, 1999, from acting as a
director or officer of any other
reporting issuer and is prohibited
from trading securities, the
panel said.