Proceedings


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

AND

IN THE MATTER OF
JENNIFER DEWLING


Hearing:
November 18, 1999

Panel:
Howard I. Wetston, Q.C. - Vice-Chair
R. Stephen Paddon, Q.C. - Commissioner

Counsel:
Katherine Kay - For Jennifer Dewling
Melanie Sopinka - For the Staff of the Ontario Securities Commission

REASONS FOR DECISION

delivered orally

We have had a chance to review the settlement agreement and to consider it in the contextof the submissions and the proposed order.

We agree with the sanctions that are proposed in the settlement agreement. We haveissued the order in the following terms; that Ms. Dewling not reapply for registration withthe Commission in any capacity for a period of four months from the date of this order; thatfor a further period of three months following the expiry of the four month period describedabove, she will not directly supervise any person in connection with that person's activityfor which registration is required; that she will complete the partner's, director's andofficer's examination within four months of the date of this order; and that pursuant to127(1) c.2 of the Securities Act, that Miss Dewling be prohibited from trading in securitiesfor a period of four months from the date of this order, except that she may be permittedto sell securities of which she is a beneficial owner as of the date of this order.

The Commission has approved this settlement in recognition of the role of a seniorexecutive of a registrant with respect to her duties in the supervision of the conduct of itssales persons and in ensuring that a registrant meets its ongoing capital requirements.

In the context of these brief reasons, we are of the view that this order is in the publicinterest pursuant to Section 127(1) of the Securities Act.

November 30th, 1999.

"Howard I. Wetston"      "R. Stephen Paddon"