Staff of the Ontario Securities Commission applied for an inter-jurisdictional enforcement order against the respondents pursuant to subsections 127(1) and 127(10) of the Securities Act, based on a prior order of the Alberta Securities Commission.
The Alberta panel had found that the respondents engaged in unregistered trading, illegal distribution of securities, and made materially misleading statements to investors.
The Commission found that the respondents' misconduct was serious and would have constituted contraventions of the Ontario Securities Act.
The Commission granted the application and issued a reciprocal order imposing trading bans, acquisition bans, and director/officer bans on the respondents to protect the Ontario capital markets.
