The Ontario Securities Commission (OSC) issued a series of reciprocal orders Thursday, imposing trading and registration bans against respondents under enforcement sanctions in other jurisdictions.
First, the commission issued an order instituting a permanent trading and exemption ban against MI Capital Corp. and One Capital Corp. Ltd., following an order made by the New Brunswick Securities Commission (NBSC) imposing sanctions on the firms in June 2012, amid allegations of unregistered trading.
In a separate case, it also issued trading, exemption, and director and officer bans against Steven Vincent Weeres and Rebekah Donszelmann, who were also sanctioned by the NBSC in March 2012 in another case of alleged unregistered trading, illegal distribution, and misrepresentations (by Weeres). The bans against Weeres are permanent, whereas they expire after 20 years for Donszelmann (in 2032).
Also, the OSC imposed 25-year trading (apart from RRSP accounts), exemption, registration and director and officer bans (until March 2036) against Frederick Johnathon Nielsen, following a settlement he entered with the B.C. Securities Commission (BCSC) in March 2011 for unregistered trading and running a boiler room.
The OSC orders note that none of the respondents appeared to defend the OSC’s allegations in these cases.