Proceedings

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IN THE MATTER OF THE SECURITIES ACT
R.S.O. 1990, c. S.5, AS AMENDED

- AND -

IN THE MATTER OF
JACK BANKS a.k.a. JACQUES BENQUESUS


ORDER
(Section 127)


WHEREAS on March 30, 2001, the Commission issued a Notice of Hearing pursuant to section 127 of the Securities Act (the Act) in respect of Jack Banks and Larry Weltman;

AND WHEREAS on January 8, 2003, the Commission considered and approved a settlement agreement between staff of the Commission and Weltman;

AND WHEREAS on January 8-9 and February 14, 2003, the Commission conducted a hearing into the conduct of Banks;

AND WHEREAS the Commission is satisfied that Banks acted contrary to the public interest;

AND WHEREAS the Commission is of the opinion that it is in the public interest to make this order;

IT IS ORDERED THAT:

(1)

pursuant to paragraph 2 of subsection 127(1) of the Act, trading in any securities by Banks cease permanently from the date of this order;

(2)

pursuant to paragraph 6 of subsection 127(1) of the Act, Banks is reprimanded;

(3)

pursuant to paragraph 7 of subsection 127(1) of the Act, Banks resign all positions that he holds as a director or officer of an issuer; and

(4)

pursuant to paragraph 8 of subsection 127(1) of the Act, Banks is prohibited permanently from the date of this order from becoming or acting as a director or officer of any issuer.

 

 

DATED at Toronto this 23rd day of April, 2003.

 

"Paul M. Moore"
"M. Theresa McLeod"
Paul M. Moore
M. Theresa McLeod
"H. Lorne Morphy"
H. Lorne Morphy