Proceedings

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

- AND -

LEHMAN BROTHERS & ASSOCIATES CORP., GREG MARKS, KENT EMERSON
LOUNDS AND GREGORY WILLIAM HIGGINS

ORDER
(Section 127 of the Securities Act)



WHEREAS on September 3, 2010, the Ontario Securities Commission (the "Commission") issued a Notice of Hearing pursuant to sections 37, 127 and 127.1 of the Securities Act, R.S.O. 1990, c. S.5, as amended (the "Act") accompanied by a Statement of Allegations dated September 3, 2010, issued by Staff of the Commission (“Staff”) with respect to Lehman Brothers & Associates Corp. (“Lehman Corp.”), Greg Marks (“Marks”), Kent Emerson Lounds (“Lounds”) and Gregory William Higgins (“Higgins”), collectively the “Respondents”,;

AND WHEREAS the Notice of Hearing stated that a hearing would be held at the offices of the Commission on September 8, 2010;

AND WHEREAS on September 8, 2010 Staff confirmed that the Commission had received the affidavit of Charlene Rochman sworn September 7, 2010 which indicated that service of the Notice of Hearing and Statement of Allegations was attempted on Lounds and Higgins personally, electronically, through their counsel or at their last known address and that Staff were unable to effect proper service on Marks and Lehman Corp. because Staff have been unable to determine a valid address for those respondents;

AND WHEREAS on September 8, 2010, Staff attended the hearing and no one appeared on behalf of the Respondents;

AND WHEREAS on September 8, 2010, Staff requested that the hearing be adjourned and a prehearing scheduled;

AND WHEREAS on September 8, 2010, Staff advised the Commission that counsel for Higgins consented to the adjournment;

AND WHEREAS on September 8, 2010, the hearing was adjourned to October 21, 2010 at 12:00 p.m. for a pre-hearing conference;

AND WHEREAS on October 21, 2010, Staff appeared before the Commission for a pre-hearing conference and no one attended on behalf of any of the Respondents;

AND WHEREAS on October 21, 2010, Staff satisfied the Commission that appropriate steps were taken to serve Lounds and Higgins with notice of the pre-hearing conference and Staff’s pre-hearing conference submissions and that Staff continue to be unable to effect proper service on Marks and Lehman Corp. because Staff have been unable to determine a valid address for those respondents;

AND WHEREAS Staff informed the Commission that counsel for Higgins contacted Staff to indicate that he could not attend the hearing and that Staff had not heard from the other Respondents;

AND WHEREAS Staff requested that the Commission set dates for the hearing on the merits;

IT IS ORDERED THAT the hearing on the merits is to commence on June 6, 2011 at 10:00 a.m. at the offices of the Commission, 20 Queen Street West, 17th Floor, Toronto, and shall continue on June 7 and 8, 2011, or such further or other dates as may be agreed to by the parties and fixed by the Office of the Secretary;

AND IT IS FURTHER ORDERED THAT the parties attend before the Commission on April 5, 2011 at 2:30 p.m. for the purpose of having a status hearing, at the offices of the Commission, 20 Queen Street West, 17th Floor, Toronto.

 

Dated at Toronto this 21st day of October, 2010

 

" James D. Carnwath "
James D. Carnwath