Proceedings

Notice from the
Office of the Secretary

Ontario Crest

Ontario
Securities
Commission


20 Queen St. W.
22nd Floor
Toronto, ON M5H 3S8
Commission des
valeurs mobilières
de l'Ontario
FOR IMMEDIATE RELEASE

January 20, 2016


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

- AND -

IN THE MATTER OF ARGOSY SECURITIES INC. and
KEYBASE FINANCIAL GROUP INC



TORONTO – The Commission issued an Order in the above named matter which provides that:

  1. the hearing and review of the Director’s Decision shall continue and be held at the offices of the Commission located at 20 Queen Street West, 17th Floor, Toronto, Ontario commencing on Wednesday January 20, 2016 at 10:00 a.m.; and
  2. pursuant to subsection 8(4) of the Act, the Director’s Decision remains stayed and Argosy and Keybase shall be subject to the following conditions until further order of the Commission and, in any event, not later than January 20, 2016:
    1. Argosy will add no more than five net new dealing representatives to its complement of representatives as at the date of the Stay Order;
    2. Argosy will not open any new branch locations;
    3. Keybase will add no more than nineteen net new dealing representatives to its complement of representatives as at the date of the Stay Order;
    4. Keybase will not open any new branch locations but may create new sub-branch locations provided Keybase branch managers conduct appropriate supervision, including periodic visits, in respect of all sub-branches as required by MFDA by-laws, rules and policies;
    5. any Keybase advisor who currently has 20% or more of his/her total clients’ assets under administration as leveraged investments will not engage in further leveraged activity; and
    6. any Keybase advisor who currently has less than 20% of his/her total clients’ assets under administration will not exceed 20% leverage.

A copy of the Order dated January 18, 2016 is available at www.osc.gov.on.ca

www.osc.gov.on.ca.


OFFICE OF THE SECRETARY
JOSÉE TURCOTTE
SECRETARY

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