Ontario Securities Commission
Ontario Securities Commission Commission des valeurs mobilières de l’Ontario P.O. Box 55, 19^th^ Floor, 20 Queen Street West, Toronto ON M5H 3S8 CP 55, 19e étage, 20, rue Queen Ouest, Toronto ON M5H 3S8
IN THE MATTER OF THE SECURITIES ACT, R.S.O. 1990, c. S.5, AS AMENDED
AND
IN THE MATTER OF BETTY LEUNG
REASONS FOR DECISION ON SETTLEMENT
Hearing: June 25, 2008
Reasons: September 4, 2008
Panel: James E. A. Turner - Vice-Chair and Chair of the Panel Suresh Thakrar - Commissioner
Counsel: Kelley McKinnon, John Humphreys, Michael Bordynuik - For Staff of the Ontario Securities Commission David Hausman - For Betty Leung
REASONS FOR DECISION ON SETTLEMENT
I. BACKGROUND
1On June 25, 2008, a hearing was convened before the Ontario Securities Commission (the "Commission") to consider the terms of a settlement agreement (the "Settlement Agreement"), dated June 23, 2008, entered into between Staff of the Commission ("Staff") and Betty Leung ("Leung") relating to matters arising from a Notice of Hearing and Statement of Allegations dated June 23, 2008. This was a hearing under sections 127 and 127.1 of the Securities Act, R.S.O. 1990, c. S.5, as amended (the "Act"), to consider whether it is in the public interest to approve the Settlement Agreement and the sanctions contained therein.
2Pursuant to paragraph 9(1)(b) of the Statutory Powers Procedure Act, R.S.O. 1990, c. S.22 and the Commission's Practice Guidelines