Disciplinary Notice - Ian James Foreman, P.Geo., Vancouver, BC
The panel found that it is explicit in NI 43-101 that technical and scientific information disclosed to the public must be based on information prepared by or under the supervision of a QP or approved by a QP. The panel found that Mr. Foreman’s duty as a QP was to prevent improper disclosure of information and that Mr. Foreman took no active steps to prevent or correct improper disclosure by the Company. The panel also found that Mr. Foreman took on the role of the Company’s QP at a time when he was not sufficiently familiar with the requirements of NI 43-101 and the role of a QP. With respect to the disclosed information, Mr. Foreman knew or ought to have known that much of it was misleading, inaccurate or insufficiently qualified. The panel determined that Mr. Foreman’s conduct was a “marked departure from the expected standard of conduct of a member” and therefore he demonstrated unprofessional conduct. The panel stated that:
Further, the panel noted that:…if, after accepting an engagement as a QP, the member subsequently finds that he or she has insufficient control or influence over the release of technical or scientific information to ensure compliance with NI 43-101, the member should not continue in the role of QP.
The panel found that Mr. Foreman’s conduct was at the more serious end of the spectrum. Mr. Foreman was suspended from practice for two years. Prior to the resumption of practice, Mr. Foreman must pass the Edumine course entitled “Mineral Project Reporting Under N1 43-101” or an equivalent course. He must also take the APEGBC Law and Ethics course and Professional Practice Examination. After resumption of practice, Mr. Foreman will be the subject of a practice review and is not permitted to act as a QP until he has successfully completed the practice review program. Mr. Foreman must pay costs to APEGBC in the amount of $80,000 payable within two years.…in circumstances where incorrect, inaccurate or misleading information is disseminated to the public by an issuer, a member who is the designated QP must take reasonable steps to correct the public record. If this cannot be done the member must publicly disassociate him/herself from the information, and where necessary report the circumstances to an appropriate regulatory agency.
The full text of the decision of the Discipline Committee Panel can be found on the APEGBC website under Disciplinary Actions. The webpage contains information on APEGBC’s complaint, investigation and discipline process. You can also contact us at 604.412.4869 or toll-free at 1.888.430.8035 ext. 4869 or by email at [email protected]