Proceedings

 

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

AND

IN THE MATTER OF
MIKAEL PRYDZ

ORDER
(Section 127(1))

WHEREAS on January 31, 2000, the Ontario Securities Commission (the"Commission") issued a notice of hearing pursuant to section 127(1) of the SecuritiesAct (the "Act") in respect of Mikael Prydz ("Prydz");

AND WHEREAS Prydz has undertaken that he will never reapply to theCommission for registration in any capacity;

AND WHEREAS Prydz has undertaken to send a letter to investors to beapproved by Staff within 10 days of the date of this Order;

AND WHEREAS Prydz has undertaken to remove within 10 days of the date ofthis Order all language from the website of his current employer which refers to hisinvolvement in the investment industry;

AND WHEREAS Prydz entered into a settlement agreement dated January 31,2000 (the "Settlement Agreement") in which he agreed to a proposed settlement of theproceeding, subject to the approval of the Commission;

AND UPON reviewing the Settlement Agreement and the statement ofallegations of Staff of the Commission, and upon hearing submissions from counsel forPrydz and from Staff of the Commission;

AND WHEREAS the Commission is of the opinion that it is in the public interestto make this Order;

IT IS ORDERED THAT:

(1) the Settlement Agreement dated January 31, 2000, attached to this Order, ishereby approved;

(2) pursuant to clause 2 of subsection 127(1) of the Act, Prydz is prohibited fromtrading in securities for a period of five years from the date of this Order; and

(3) pursuant to clause 6 of subsection 127(1) of the Act, Prydz is reprimanded.

February 8th, 2000.

"Howard I. Wetston"      "Theresa McLeod"