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Saturday, April 18, 2015


On September 14th, the Saskatchewan Securities Commission issued its decision

from a four day hearing in June and July concerning Darcy Bergen, a Regina

mutual fund salesperson.

The hearing was to determine whether Bergen breached the trust of his clients

when he advised them to invest in certain limited partnership investments,

referred them to Kent Owens for the purchase and received a commission from

Owens. It was also alleged Bergen broke the rules of the securities act.

During the hearing, the commission heard evidence from investors about how they

came to rely on Bergen's advice, invested in Marina Shores Las Vegas Limited

Partnership, Barclay Las Vegas Limited Partnership, Platinum Companies and

Foundation Financial Corporation, and then lost their investments.

In its decision, the commission said "where there is conflict between the

evidence of Mr. Bergen and that of his customers, we accept the evidence of the

customers". The Commission went on to say "we think Bergen's fundamental

problem is that he still doesn't understand that a registrant cannot absolve

himself for responsibility for his conduct because he relies on others". It

found that Bergen "is not demonstrating the knowledge and attitudes necessary

for fulfilment of his duties as a registrant and to the public".

On October 11th, at 9:00 am, the commission will hear arguments from commission

staff and from Bergen's lawyers as to the sanctions that it should impose

against Bergen.


For more information and copies of the decision, contact:

Vic Pankratz

Deputy Director, Enforcement

Saskatchewan Securities Commission


Phone: (306) 787-5850
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