IN THE MATTER OF THE SECURITIES ACT
R.S.O. 1990, c.S.5, AS AMENDED
(Sections 127 and 127.1)
WHEREAS on June 8, 2004, the Commission issued a Notice of Hearing (the "Notice of Hearing") pursuant to sections 127 and 127.1 of the Securities Act (the "Act") in respect of Eden Rahim ("Rahim");
AND WHEREAS Rahim entered into a settlement agreement with Staff of the Commission (the "Settlement Agreement"), in which Rahim agreed to a proposed settlement of the proceeding commenced by the Notice of Hearing, subject to the approval of the Commission;
AND UPON reviewing the Settlement Agreement and the Notice of Hearing and Statement of Allegations of Staff of the Commission, and upon hearing submissions from the Respondent and from Staff of the Commission;
AND WHEREAS the Commission is of the opinion that it is in the public interest to make this Order;
IT IS HEREBY ORDERED THAT:
• the Settlement Agreement dated June 8, 2004, attached hereto, is hereby approved;
• that pursuant to s.127(1) clause 1, it is a term and condition of the registration of Eden Rahim that for a period of one year from the reinstatement of his registration, Rahim is not permitted to participate in any private placement of securities on behalf of any fund that he may manage without first obtaining the prior written consent of his supervisor with respect to that trade;
(c ) that pursuant to s.127(1) clause 6, Rahim be reprimanded; and
(d) that pursuant to s.127.1, Rahim make a payment of $30,000 to the Ontario Securities Commission in respect of a portion of the costs of the investigation and this proceeding.
DATED at Toronto this 11 th day of June , 2004.
|"Wendell S. Wigle"||"Harold P. Hands"|
|Wendell S. Wigle||Harold P. Hands|