Proceedings

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

- AND -

CICCONE GROUP, MEDRA CORPORATION, 990509 ONTARIO INC., TADD FINANCIAL
INC., CACHET WEALTH MANAGEMENT INC., VINCE CICCONE, DARRYL BRUBACHER,
ANDREW J MARTIN, STEVE HANEY, KLAUDIUSZ MALINOWSKI,
AND BEN GIANGROSSO

ORDER
(Subsections 127(7) and (8))



WHEREAS on April 21, 2010, the Ontario Securities Commission (the “Commission”) issued a temporary order pursuant to sections 127(1) and 127(5) of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”) that the Respondents cease trading in securities; that the exemptions contained in Ontario securities law do not apply to all of the Respondents except 990509 Ontario Inc. (“990509”); and that trading in the securities of 990509 and Medra Corporation (“Medra”) cease (the “Temporary Order”);

AND WHEREAS on April 21, 2010, the Commission ordered that the Temporary Order shall expire on the 15th day after its making unless extended by order of the Commission;

AND WHEREAS on April 22, 2010, the Commission issued a notice of hearing giving notice that it will hold a hearing (the “Hearing”) on May 3, 2010 at 10 a.m. to consider, among other things, whether it is in the public interest to extend the Temporary Order pursuant to subsections 127(7) and (8) of the Act until the conclusion of the Hearing, or until such further time as considered necessary by the Commission;

AND WHEREAS on May 3, 2010, the Commission extended the Temporary Order against all of the named respondents to October 22, 2010 and adjourned the Hearing to October 21, 2010;

AND WHEREAS on October 21, 2010, counsel for Staff, counsel for Klaudiusz Malinowski (“Malinowski”) and Cachet Wealth Management (“Cachet”), and Steve Haney (“Haney”), on his own behalf, and Ben Giangrosso (“Giangrosso”), on his own behalf, appeared before the Commission for the Hearing;

AND WHEREAS Staff advised the Commission that it was not seeking an extension of the Temporary Order against Haney and Giangrosso but that it was seeking an extension of the Temporary Order for a period of 3 months as against the balance of the respondents;

AND WHEREAS counsel for Malinowski and Cachet advised the Commission that they do not oppose an extension of the Temporary Order;

AND WHEREAS Staff advised the Commission that counsel for Ciccone Group, 990509 and Vince Ciccone (“Ciccone”) do not oppose the extension of the Temporary Order, and that Medra, Tadd Financial Inc. (“Tadd”), Darryl Brubacher (“Brubacher”) and Andrew J. Martin (“Martin”) consent to the extension of the Temproary Order;

AND WHEREAS, upon the submissions of Staff, counsel for Malinowski and Cachet, Haney, and Giangrosso, and upon review of the evidence filed by Staff, the Commission was of the opinion that it was in the public interest to make this Order;

IT IS HEREBY ORDERED pursuant to subsections 127(7) and (8) of the Act that:

  1. the Temporary Order is extended as against Ciccone Group, Medra, 990509, Cachet, Tadd, Ciccone, Malinowski, Brubacher, and Martin to January 26, 2011; and
  2. the Hearing is adjourned to January 25, 2011, at 2:00 p.m.

 

DATED at Toronto this 21st day of October, 2010.

 

" James D. Carnwath "
James D. Carnwath