IN THE MATTER OF THE SECURITIES ACT
R.S.O. 1990, c.S.5, AS AMENDED
IN THE MATTER OF
BRIAN ANDERSON, LESLIE BROWN, DOUGLAS BROWN, DAVID SLOAN AND FLAT ELECTRONIC DATA INTERCHANGE (a.k.a. F.E.D.I.)
Subsection 127(1) & 127(5)
WHEREAS on June 5, 2003, the Commission ordered pursuant to section 127(5) of the Securities Act that trading in a seat on the Flat Electronic Data Interchange ("FEDI") by the Respondents cease and that the Respondents not provide to a person or company copies of documents affixed to the order as Schedules "A" to "H";
AND WHEREAS on June 11, 2003, the Ontario Securities Commission issued a Notice of Hearing pursuant to section 127 of the Securities Act wherein Staff of the Commission sought, among other relief, a continuation of the Temporary Order;
AND WHEREAS on June 18, 2003, the Commission heard submissions from Staff and submissions for Counsel for Brian Anderson, Leslie Brown, Douglas Brown and David Sloan (the "Individual Respondents");
AND WHEREAS on June 18, 2003, Staff of the Commission advised that the Respondent FEDI had not been served with the Temporary Order, Notice of Hearing or Statement of Allegations, and were therefore not seeking to extend the temporary order against FEDI;
AND WHEREAS the Individual Respondents and Staff each consented to continue the hearing on July 11, 2003;
AND WHEREAS on July 11, 2003, the Individual Respondents and Staff each consented to continue the hearing on September 15, 2003, or as soon thereafter as a panel could be constituted;
AND WHEREAS thereafter the Secretary notified all parties of a hearing date of September 18, 2003;
AND WHEREAS on August 8, 2003 FEDI was served in New York, New York, with the Notice of Hearing and Statement of Allegations, and were provided with notice of the hearing date of September 18, 2003;
AND WHEREAS no one appeared today on behalf of FEDI, although properly served;
AND WHEREAS the Individual Respondents and Staff each consent to Staff's request, for the purpose of allowing Staff to continue its investigation in this matter, to adjourn the hearing date scheduled for September 18, 2003 and to further continue this Order pending a hearing on the merits of the issue of continuing the Temporary Order,;
IT IS THEREFORE ORDERED that the Temporary Order issued June 5, 2003, continued as against the Individual Respondents on June 18, 2003, and continued further on July 11, 2003, be continued until further order of the Commission, following the hearing to commence on or about December 1, 2003, or as soon thereafter as a panel may be constituted.
Dated at Toronto this 18th day of September, 2003
|"H. Lorne Morphy"
H. Lorne Morphy, Q.C.
Robert Shirriff, Q.C.
Wendell Wigle, Q.C.