Staff of the Ontario Securities Commission sought a reciprocal order under subsection 127(10) of the Securities Act against the respondent, who had previously entered into a settlement agreement with the Alberta Securities Commission.
In the Alberta settlement, the respondent admitted to unregistered trading, advising, and illegal distribution of securities, as well as concealing information from investigators.
The respondent took no position on the Ontario hearing and stated he had no intention to carry on business in Ontario.
The Commission found that the threshold for a reciprocal order was met and that it was in the public interest to impose prospective trading and registration bans mirroring those imposed in Alberta to protect Ontario investors.
