Securities Law & Instruments

IN THE MATTER OF

VIRGINIA TAN

 

Mark J. Sandler, Chair of the Panel

 

August 3, 2017

 

ORDER

(Subsections 127(1) and 127(10)

of the Securities Act, RSO 1990, c S.5)

 

                WHEREAS on August 3, 2017, the Ontario Securities Commission (the Commission) held a hearing at the offices of the Commission, located at 20 Queen Street West, 17th Floor, Toronto, Ontario, in relation to an application by Staff of the Commission (Staff) for an order imposing sanctions pursuant to subsections 127(1) and 127(10) of the Securities Act, RSO 1990, c S.5 (the Act);

 

                ON READING the Settlement Agreement between Virginia Tan (Tan) and the British Columbia Securities Commission (BCSC) dated April 13, 2017 (Settlement Agreement), in which Tan consents to a regulatory order made by any provincial or territorial securities regulatory authority in Canada containing any or all of the Orders set out at paragraph 3 of the Settlement Agreement, and an Order of the BCSC dated April 13, 2017 in the matter of Tan;

 

                AND ON HEARING the submissions of the representative for Staff, appearing in person; no one appearing for Tan, although properly served as appears from the Affidavit of Service of Lee Crann sworn July 31, 2017;

 

                IT IS ORDERED:

 

1.             against Tan that:

 

a.             pursuant to paragraph 2 of subsection 127(1) of the Act, trading in any securities or derivatives by Tan cease permanently;

 

b.             pursuant to paragraph 2.1 of subsection 127(1) of the Act, the acquisition of any securities by Tan cease permanently;

 

c.             pursuant to paragraphs 7 and 8.1 of subsection 127(1) of the Act, Tan resign any positions that she holds as a director or officer of any issuer or registrant;

 

d.             pursuant to paragraphs 8 and 8.2 of subsection 127(1) of the Act, Tan be prohibited permanently from becoming or acting as a director or officer of any issuer or registrant; and

 

e.             pursuant to paragraph 8.5 of subsection 127(1) of the Act, Tan be prohibited permanently from becoming or acting as a registrant, investment fund manager or promoter.

 

“Mark J. Sandler”