The Ontario Securities Commission on Monday issued a temporary cease trade order prohibiting trading in any securities by Mark Valentine. The OSC also suspended his registration under Ontario securities laws.

Both the cease trade order and suspension are for a period of 15 days. Valentine was, until recently, the chairman of Thompson Kernaghan & Co. Ltd.

The cease trade order states that Valentine is under investigation by both the OSC and the Investment Dealers’ Association for his actions as general partner of certain Limited Partnerships. These partnerships include the Canadian Advantage Limited Partnership and the VC Advantage Fund Partnership. His trading of shares in certain over-the-counter securities is also under investigation.

Valentine’s employment with Thompson Kernaghan was suspended on June 13, 2002, and that he has been excluded from their premises.