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 MOHINDER AHLUWALIA

NOTICE OF HEARING
(Sections 37, 127 and 127.1)



    TAKE NOTICE THAT the Ontario Securities Commission (the "Commission") will hold a hearing pursuant to sections 37, 127 and 127.1 of the Ontario Securities Act, R.S.O. 1990, c. S.5, as amended (the "Act") at the offices of the Commission at 20 Queen Street West, 17th Floor Hearing Room on November 29 and 30, 2012 at 10:00 a.m., or as soon thereafter as the hearing can be held, to consider:

  1. whether, in the opinion of the Commission, it is in the public interest pursuant to sections 37, 127 and 127.1 of the Act to order that:
    1. trading in any securities by Mohinder Ahluwalia (“Mohinder”) cease permanently or for such period as is specified by the Commission;
    2. the acquisition of any securities by Mohinder is prohibited permanently or for such other period as is specified by the Commission;
    3. any exemptions contained in Ontario securities law do not apply to Mohinder permanently or for such period as is specified by the Commission;
    4. Mohinder disgorge to the Commission any amounts obtained as a result of his non-compliance with Ontario securities law;
    5. Mohinder be reprimanded;
    6. Mohinder resign one or more positions that he holds as a director or officer of any issuer, registrant, or investment fund manager;
    7. Mohinder be prohibited from becoming or acting as a director or officer of any issuer, registrant, and investment fund manager;
    8. Mohinder be prohibited from becoming or acting as a registrant, as an investment fund manager and as a promoter;
    9. Mohinder pay an administrative penalty of not more than $1 million for each failure by Mohinder to comply with Ontario securities law; and
    10. Mohinder be ordered to pay the costs of the Commission investigation and the hearing;
  2. whether, in the opinion of the Commission, an order should be made pursuant to section 37 of the Act that Mohinder cease permanently from telephoning from within Ontario to any residence within or outside Ontario for the purpose of trading in any security or any class of securities; and
  3. whether to make such further orders as the Commission considers appropriate.

    BY REASON OF the allegations as set out in the Statement of Allegations of Staff of the Commission dated September 21, 2012, the agreed statement of facts filed with the Commission by Mohinder and Staff and such further additional allegations as counsel may advise and the Commission may permit;

    AND TAKE FURTHER NOTICE that upon failure of Mohinder to attend at the time and place aforesaid, the hearing may proceed in his absence and he is not entitled to any further notice of the proceeding.

    DATED at Toronto this 11th day of October, 2012

 

" John Stevenson "
John Stevenson
                      Secretary to the Commission

 

TO: Mohinder Ahluwalia