Scott Hill

Insider Talking: May 12, 2010

Bermuda resident Eric Collins seemingly rues the day he agreed to serve as a director of Consensus Investments Ltd., which the SEC alleges was used to conceal insider trading in penny stock SHEP Technologies by Lines Overseas Management, Scott Lines,

BCSC finds no evidence for cease-trade order against Lines Overseas Management

For the second time in 57 days, a British Columbia Securities Commission panel has ruled not to ban offshore investment firm Lines Overseas Management from the local market. In a decision on March 4, 2005, the panel determined that, although it was still concerned about LOM's activities, its staff had not met their burden of providing sufficient evidence to justify an order prohibiting LOM, affiliated firms and its senior officers from trading on behalf of undisclosed beneficial owners. However, the panel left open a window of opportunity for its staff by concluding that: "If the Executive Director wishes to pursue the matter, the necessary evidence should be gathered and a notice of hearing issued."

LOM wins victory in British Columbia but faces new hearing

The British Columbia Securities Commission yesterday dismissed an application for cease trade orders and other sanctions against offshore investment firm Lines Overseas Management Ltd. and its senior officers. However, it was a hollow victory for the respondents since the Commission panel immediately ordered a new hearing to determine whether to ban LOM from the local market for different reasons.

LOM caused year-long delay in securities fraud investigation, claims regulator

An investigation into suspected stock manipulation has been stymied by the non-co-operation of offshore broker Lines Overseas Management, it has been claimed.The allegation was made at a hearing in November before the British Columbia Securities Commission to consider banning the following parties from the local market: LOM (Holdings) Limited, LOM Securities (Bahamas) Limited, LOM Securities (Bermuda) Limited, LOM Securities (Cayman) Limited, Lines Overseas Management Limited, and LOM officers Donald P. Lines, Chairman and a former CEO of the Bank of Bermuda; Brian N. Lines, President and a Director; Scott G. S. Lines, LOM's Managing Director; Malcolm Moseley, LOM's CFO, Executive Vice President, and a Director; David McNay, Vice President of Investment Operations; and J. Scott Hill, Compliance Manager, all of whom reside in Bermuda.

Lines Overseas Management lists on Bermuda Stock Exchange

Shares of the parent company of Bermuda-based stockbroker Lines Overseas Management were listed for the first time on the Bermuda Stock Exchange on July 24.A statement that the shares had been approved for listing was made on July 20 without any prior public announcement that an application had been submitted.

James Dale Davidson and Agora Inc.: Sorting out fact from fiction

Investment adviser James Dale Davidson, an American businessman with extensive offshore interests who featured prominently in last month's expose of investment clubs run by Baltimore-based Agora Publishing, was taken aback recently when a subscriber to Agora's newsletter Strategic Investment posted the following message on its web-site: "I have been an eager reader of your insightful speculations about the world and its rapid devolution from nation-state boundaries. I am thus perplexed by the witless investment advice promoted as 'intelligence' within these hallowed halls of the privileged and elitely 'connected' 'sources'."