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 PALADIN CAPITAL MARKETS INC. ,
JOHN DAVID CULP, AND CLAUDIO FERNANDO MAYA

ORDER



    WHEREAS on January 12, 2011, the Ontario Securities Commission (the "Commission") issued a Notice of Hearing pursuant to section 127 of the Securities Act, R.S.O. 1990, c. S.5, as amended (the "Act") in relation to Claudio Fernando Maya (“Maya”);

    AND WHEREAS Maya entered into a settlement agreement with Staff of the Commission (“Staff”) dated January 12, 2011 (the “Settlement Agreement”), a copy of which is attached as Schedule “A” to this Order, subject to the approval of the Commission;

    AND UPON reviewing the Settlement Agreement, and upon hearing submissions from counsel for Staff and Maya;

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

    IT IS ORDERED THAT:

  1. The Settlement Agreement is approved;
  2. Maya is prohibited for a period of three years (commencing from the date of the temporary order dated June 2, 2009) from trading in securities, pursuant to s. 127(1)2 of the Act;
  3. Any exemptions contained in Ontario securities law not to apply to Maya for a period of three years (commencing from the date of the temporary order dated June 2, 2009), pursuant to s. 127(1)3 of the Act;
  4. Maya is reprimanded, pursuant to s. 127(1)6 of the Act;
  5. Maya is prohibited for a period of three years (commencing from the date of the temporary order dated June 2, 2009) from becoming or acting as a director or officer of a registrant pursuant to s. 127(1)8.2;
  6. Maya is prohibited for a period of three years (commencing from the date of the temporary order dated June 2, 2009) from becoming or acting as a director or officer of an investment fund manager, pursuant to s. 127(1)8.4 of the Act; and
  7. Maya is prohibited for a period of three years (commencing from the date of the temporary order dated June 2, 2009) from becoming or acting as a registrant, as an investment fund manager or promoter, pursuant to s. 127(1)8.5 of the Act.

DATED at Toronto this 14th day of January 2011.

 

" Carol S. Perry "
Commissioner Carol S. Perry