The Ontario Securities Commission (OSC) Monday approved a settlement agreement reached between Staff and Peter Atkinson, a former senior officer and a director of Hollinger Inc.
Atkinson agreed to a permanent ban on serving as a director or officer of a public company, or a registered firm
In the deal, Atkinson acknowledged that he was convicted of one count of fraud in U.S. district court, and that the U.S. Securities and Exchange Commission (SEC) found that he violated U.S. securities law, in connection with a purported non-competition payment from a Hollinger subsidiary. As a result, the SEC banned him from acting as an officer or director in the U.S. (See Investment Executive, OSC proposes settlement to civil case against Peter Atkinson, September 19, 2013.)
He had previously agreed with the OSC not to become an officer or director of a public company, or a registrant, in Ontario, pending the conclusion of the OSC proceeding against him.
On Monday, Atkinson agreed to make those undertakings permanent.
“This settlement makes clear that individuals who are convicted of securities-related fraud will not have the privilege of free access to the Ontario capital markets,” said Tom Atkinson, director of enforcement at the OSC.