Proceedings

Notice from the
Office of the Secretary

Ontario Crest

Ontario
Securities
Commission


20 Queen St. W.
22nd Floor
Toronto, ON M5H 3S8
Commission des
valeurs mobilières
de l'Ontario
FOR IMMEDIATE RELEASE

November 12, 2015


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


TORONTO – The Commission issued an Order in the above named matter which provides that:

  1. Subject to the authority of the Panel presiding over the Merits Hearing, Tang shall not be permitted to summon as witnesses at the Merits Hearing any of the three Staff members identified as prospective witnesses in Tang’s Pre-Hearing Conference Submissions;
  2. Subject to the authority of the Panel presiding over the Merits Hearing, Tang shall be permitted to summon no more than six investor witnesses at the Merits Hearing unless Tang provides the Panel with compelling reasons for doing so;
  3. Subject to the authority of the Panel presiding over the Merits Hearing, the evidence that Tang may lead at the Merits Hearing shall be restricted to matters relevant to the appropriate sanction or sanctions that may be imposed on Tang under subsection 127(10) of the Securities Act;
  4. Tang shall file and serve witness statements for the witnesses he intends to summon by no later than November 20, 2015, setting out their names and disclosing the substance of their anticipated evidence at the hearing on the merits;
  5. Any hearing of the Frozen Funds Application, which would include a determination of the authority of a Panel to grant any relief in respect of such Application, shall be adjourned sine die pending the disposition of the motion brought by Representative Counsel before the Superior Court of Justice and served on Tang on November 6, 2014;
  6. Staff shall advise the Commission, through the office of the Secretary, of the disposition of such motion by Representative Counsel and, if the motion is not disposed of in a timely fashion, Staff shall so alert the office of the Secretary for the purpose of permitting the Frozen Funds Application to be spoken to further;
  7. Staff and Tang shall each deliver a Hearing Brief by no later than December 1, 2015; and
  8. A further pre-hearing conference shall be held on November 25, 2015 at 9:00 a.m.

A copy of the Order dated November 11, 2015 is available at www.osc.gov.on.ca.


OFFICE OF THE SECRETARY
JOSÉE TURCOTTE
SECRETARY

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