Sylvia Schumacher

Staff of the Ontario Securities Commission sought a reciprocal order under s. 127(10) of the Securities Act based on a decision of the British Columbia Securities Commission (BCSC).

The BCSC had found that the respondents engaged in unregistered trading and illegal distribution of securities, raising $5.7 million from investors without filing a prospectus.

The respondents did not participate in the written hearing.

The Commission found that the respondents' conduct was abusive of the capital markets and that it was in the public interest to reciprocate the BCSC's order.

The Commission permanently prohibited the respondents from trading in securities, acquiring securities, and acting as directors or officers of any issuer or registrant in Ontario.

Staff of the Ontario Securities Commission sought an inter-jurisdictional enforcement order against the respondents under s. 127(10) of the Securities Act, based on a prior order of the New Brunswick Securities Commission.

The NBSC had found that the respondents engaged in unregistered trading, illegal distribution, and fraud.

The respondents did not appear at the written hearing.

The Commission found it was in the public interest to protect Ontario investors and capital markets by imposing reciprocal sanctions.

The Commission ordered permanent trading and director/officer bans against the first respondent, and 20-year bans against the second respondent, consistent with the NBSC order.

Staff of the Ontario Securities Commission sought an inter-jurisdictional enforcement order against the respondent under s. 127(10) of the Securities Act, based on a settlement agreement and order from the British Columbia Securities Commission.

The respondent had admitted to unregistered trading and cold calling in BC, with aggravating factors including a prior conviction for a Ponzi scheme.

The Commission found it was in the public interest to impose sanctions mirroring the BC order, including a cease trade order and director/officer bans until 2036, subject to a carve-out for one cash and one RSP account.

Staff of the Ontario Securities Commission sought an inter-jurisdictional enforcement order against the respondents under subsection 127(10) of the Securities Act, based on a prior order of the New Brunswick Securities Commission.

The NBSC had found that the respondents engaged in unregistered trading and permanently banned them from trading and using exemptions.

The respondents did not appear at the written hearing.

The Commission found it was in the public interest to protect Ontario investors and capital markets by reciprocating the NBSC order, permanently ceasing the respondents' trading and denying them exemptions under Ontario securities law.

Staff of the Ontario Securities Commission sought sanctions against the respondents following their criminal convictions for fraud, unregistered trading, and illegal distribution of securities in connection with a boiler room operation.

Relying on the inter-jurisdictional enforcement provisions in s. 127(10) of the Securities Act, the Commission found it was in the public interest to impose sanctions.

The Commission ordered permanent market bans against the respondents, permanent director and officer bans, and joint and several disgorgement of $205,000, representing the funds illegally obtained from investors.