The Ontario Securities Commission has set a hearing date in the matter of Michael Goselin Irvine Dyck, Donald McCrory and Roger Chiasson. The hearing will take place between November 18, 2002 and December 6, 2002 in the Main Hearing Room, 20 Queen Street W., 17th floor, Toronto.

Enforcement staff are alleging that Goselin, Dyck, McCrory and Chiasson participated in
illegal distributions of securities, namely units in several North George Limited Partnerships and promissory notes in Lionaird Capital Corp., and acted contrary to the public interest by, among other things:

  • failing to provide their clients access to substantially the same information that a prospectus filed under the Act would provide;
  • misrepresenting to their clients, the nature and quality of, and the return to be realized on, the investments;
  • recommending and selling speculative investments unsuitable for their clients; and
  • engaging in high pressure sales tactics including advising investors to borrow funds or redeem mutual funds to invest.

In the case of Chiasson, enforcement staff are also alleging that he traded securities without being registered with the commission to do so.