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Settlement agreement approved for non-wilful misleading statements during a compliance review.
The Ontario Securities Commission held a hearing to consider a proposed Settlement Agreement between Staff and the respondents, Swift Trade Inc. and Peter Beck.
The respondents admitted to making non-wilful misleading statements regarding the beneficial ownership of a major client during a compliance review.
The Commission approved the settlement, finding it fair and reasonable, and ordered a reprimand, the removal of terms and conditions on Swift Trade's registration, and $20,000 in costs.
