IN THE MATTER OF THE SECURITIES ACT
R.S.O. 1990, c. S. 5 as amended
IN THE MATTER OF MARY DE LA TORRE AND ALAN RAE
(Section 127 and 127.1)
WHEREAS on January 16, 2003, the Ontario Securities Commission (the “Commission”) issued a Notice of Hearing pursuant to sections 127(1) and 127.1 of the Securities Act in respect of Mary de la Torre (“de La Torre”) and Alan Rae (‘Rae”);
AND WHEREAS de la Torre and Rae entered into a settlement agreement with Staff of the Commission dated March 29, 2005 (the “Settlement Agreement”) in which they agreed to a proposed settlement of the proceedings commenced by the Notice of Hearing, subject to the approval of the Commission;
AND WHEREAS Staff recommend approval of the Settlement Agreement;
AND UPON reviewing the Settlement Agreement and the Notice of Hearing of Staff of the Commission, and upon hearing submissions of Staff and counsel for de la Torre and Rae;
AND WHEREAS the Commission is of the opinion that it is in the public interest to make this Order;
IT IS HEREBY ORDERED THAT:
1. the Settlement Agreement attached to this Order as Schedule “A” is hereby approved;
2. pursuant to clause 6 of subsection 127(1) of the Act, de la Torre and Rae shall be reprimanded; and
3. Pursuant to clause 2 of subsection 127(1) of the Act, the respondents shall cease trading for a period of six months commencing on March 29, 2005.
DATED at Toronto this 29 th date of March, 2005.
Robert L. Shirriff
Wendell S. Wigle