Proceedings

IN THE MATTER OF THE SECURITIES ACTR.S.O. 1990, c. S.5,
AS AMENDED
AND
IN THE MATTER OF
EMMANUEL BORROMEO
ORDER(Section 127)

WHEREAS on May 4, 1993, 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 Emmanuel Borromeo ("Borromeo");

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

AND WHEREAS Borromeo has agreed that an order be made under subsection 127(1)1 of the Act that his registration be suspended for a period of threemonths commencing November 8, 1997;

AND WHEREAS Borromeo has agreed to make a voluntary contribution to the Canadian Investor Protection Fund in the amount of $5,000;

AND UPON reviewing the Settlement Agreement, the Statement of Allegations of Staff of the Enforcement Branch of the Commission and upon hearingsubmissions from Borromeo 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 October 29, 1997, attached hereto, be and is hereby approved;

2. Pursuant to clause 1 of subsection 127(1) of the Act, the registration of Borromeo is suspended for a period of three months commencing November 8, 1997.

October 30, 1997.

"Morley P. Carscallen" "G. P. H. Vernon"