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by Mike Caswell

Robert Scott Morrice, the Victoria lawyer who accepted a 12-year ban from the B.C. Securities Commission for circumventing rules surrounding OTC Bulletin Board shells, is under investigation by the Law Society of British Columbia. The society has ended his membership, a measure it says is necessary for the protection of the public. He will remain a non-member while the society conducts an investigation and contemplates any discipline of its own.

The Law Society action stems from a case the BCSC pursued against Mr. Morrice and another man, Donald Byrne, for their roles with three OTC-BB shell companies. The BCSC said that the men used nominee officers and directors in Saskatchewan to disguise their roles with the three shells. They did so to circumvent rules in B.C. designed to curb abusive activities by B.C. residents operating in the U.S. Eventually Mr. Morrice sold one of the shells to a British Virgin Islands company, after which it was used in a fraud that resulted in charges against a U.S. man, the BCSC claimed.

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