Proceedings

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

- AND -

IN THE MATTER OF
GOLDBRIDGE FINANCIAL INC.,
WESLEY WAYNE WEBER, and
SHAWN LESPERANCE

HEARING HELD PURSUANT TO SECTIONS 127 AND 127.1 OF THE SECURITIES ACT

SETTLEMENT HEARING RE: SHAWN LESPERANCE





HEARING: Wednesday, September 2, 2009  
     
PANEL: Patrick J. LeSage, Q.C. - Chair of the Panel
     
APPEARANCES: Jon Feasby - for Staff of the Ontario Securities Commission
     
Michael Donsky - for Shawn Lesperance
     

ORAL RULING AND REASONS


The following text has been prepared for the purpose of publication in the Ontario Securities Commission Bulletin and is based on excerpts of the transcript of the hearing. The excerpts have been edited and supplemented and the text has been approved by the Chair of the Panel for the purpose of providing a public record of the decision.

Chair

[1] The Commission and Mr. Lesperance have entered into an agreement in regards to the conduct of Mr. Lesperance, the Treasurer and a director of Goldbridge Financial Inc. It is agreed that as a result of the conduct of Mr. Lesperance (and others), as the Treasurer and a director of Goldbridge Financial Inc., he received monies clearly in violation of the Securities Act and an outstanding order made by this Commission.

[2] That misconduct has been acknowledged and accepted by Mr. Lesperance. The Commission and Mr. Lesperance, through his counsel, Mr. Donsky, who is here today along with Mr. Lesperance, have entered into this settlement agreement. The penalty agreed upon between the parties is that: Mr. Lesperance be prohibited for three years from trading in securities, subject to the exception that he may continue to trade on his own behalf exclusively in a Registered Retirement Savings Plan account; second, that Mr. Lesperance be prohibited for three years from becoming or acting as a director or officer of any issuer; and third, that Mr. Lesperance pay the costs of the investigation of this matter to the Commission in the amount of $1,000 within one week of the date of the order.

[3] I am satisfied having regard to all the circumstances that the proposed settlement is appropriate and that it satisfies the public interest in censoring Mr. Lesperance’s conduct. The proposed settlement therefore shall become the order of this Tribunal.

[4] As the record will show, a bank draft in the amount of $1,000 has been presented to the Commission by Mr. Donsky, counsel for Mr. Lesperance, this morning in the hearing room. That will satisfy the third condition, with the exception that there is a tiny spelling error in the draft. I am sure it will be of no concern and, in any case, if it is, Mr. Donsky has undertaken to ensure that it is corrected as required to satisfy the $1,000 cost order.

[5] Mr. Lesperance just let me say this to you; consider yourself fortunate that Mr. Feasby and Mr. Donsky were able to resolve the matter in the manner in which it has been presented. I hope that it is a lesson to you that there are rules and regulations that must be followed. Should you ever seek to go back into the business, you must follow appropriate rules and regulations. In the meantime, good luck.

Approved by the Chair of the Panel on September 12, 2009.



“Patrick J. LeSage”
Patrick J. LeSage, Q.C.