Proceedings

IN THE MATTER OF THE SECURITIES ACT R.S.O. 1990, c. S.5,
AS AMENDED
AND
IN THE MATTER OF
DINO P. DELELLIS, WILLIAM R. KENNEDY
AND
THE HEIGHT OF EXCELLENCE FINANCIAL PLANNING GROUP INC.
ORDER (Section 127)

WHEREAS on April 9, 1997, the Ontario Securities Commission (the "Commission") issued a Notice of Hearing pursuant to section 127(1) of the SecuritiesAct, R.S.O. 1990, c. S.5, as amended (the "Act") in respect of The Height of Excellence Financial Planning Group Inc. ("FPG");

AND WHEREAS on April 24, 1997, the Commission ordered the hearing in respectof the Respondents be adjourned to May 15, 1997;

AND WHEREAS on May 15, 1997, the Commission ordered that the hearing in respect of the Respondents be adjourned to July 25, 1997;

AND WHEREAS on July 25, 1997, the Commission ordered that: (1) the hearing in respect of FPG be adjourned to August 15, 1997; and (2) the hearing inrespect of Dino P. Delellis and William R. Kennedy be adjourned to November 17, 1997 for a hearing of this matter;

AND WHEREAS FPG and Staff of the Commission entered into a settlement agreement dated August 14, 1997 (the "Settlement Agreement") in which theyagreed to a proposed settlement of the proceeding respecting FPG subject to the approval of the Commission;

AND WHEREAS FPG has agreed that FPG will receive a reprimand from the Commission;

AND WHEREAS FPG has voluntarily undertaken a review of its practices and procedures by Arthur Andersen and agreed to institute such changes asrecommended by Arthutr Andersen and Staff of the Commission;

AND WHEREAS FPG has undertaken to provide a further report to Staff in six months from the date of this agreement detailing steps taken and being taken byFPG to implement the recommendations;

AND WHEREAS FPG agrees to pay $20,000 towards the costs of staff's investigation;

AND UPON reviewing the Settlement Agreement, the Statement of Allegations of Staff of the Enforcement Branch of the Commission and upon hearingsubmissions from FPG and Staff of the Commission;

AND UPON the Commission being of the opinion that it is in the public interest to make this order;

IT IS ORDERED THAT:

1. The Settlement Agreement dated August 14, 1997, attached hereto, be and is hereby approved;

2. Pursuant to clause 4 of subsection 127(1) of the Act, FPG has undergone a review of its practices and procedures by Arthur Andersen, provided therecommendations of that review to Staff of the Commission and agreed to institute such changes as recommended by Staff of the Commission and ArthurAndersen, as set out in Appendix "A" of the Settlement Agreement;

3. Pursuant to clause 6 of subsection 127(1) of the Act, FPG is hereby reprimanded.

August 15th, 1997.

"Morley P. Carscallen"

"G. P. H. Vernon"

"Glorianne Stromberg"