IN THE MATTER OF THE SECURITIES ACT
R.S.O. 1990, c. S.5 AS AMENDED
IN THE MATTER OF
GOLDBRIDGE FINANCIAL INC., WESLEY WAYNE WEBER and
SHAWN C. LESPERANCE
(Sections 127 and 127.1 of the Securities Act)
WHEREAS on August 31, 2009, a Statement of Allegations was issued and on September 18, 2009, a Notice of Hearing was issued pursuant to sections 127 and 127.1 of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”), to consider whether Goldbridge Financial Inc. (“Goldbridge”), Wesley Wayne Weber (“Mr. Weber”) and Shawn C. Lesperance (“Mr. Lesperance”) breached subsection 25(1)(a) and 25(1)(c) of the Act, whether Mr. Weber breached subsection 122(1)(a) of the Act, and whether all the respondents engaged in conduct contrary to the public interest;
AND WHEREAS prior to the hearing on the merits, Mr. Lesperance settled with the Commission (Re Goldbridge Financial Inc. (2009), 32 O.S.C.B. 7387 (oral reasons));
AND WHEREAS the Commission conducted the hearing on the merits in this matter with respect to Goldbridge and Mr. Weber on February 8, 9, and 12, 2010;
AND WHEREAS the Commission issued its Reasons and Decision on the merits in this matter on January 21, 2011 (Re Goldbridge Financial Inc. (2011), 34 O.S.C.B. 1064 (the “Merits Decision”));
AND WHEREAS the Commission is satisfied that Mr. Weber and Goldbridge have not complied with Ontario securities law and have not acted in the public interest, as outlined in the Merits Decision;
AND WHEREAS the Commission conducted a hearing with respect to sanctions and costs on May 13, 2011 (the “Sanctions and Costs Hearing”);
AND WHEREAS the Commission is of the opinion that it is in the public interest to make this order;
IT IS HEREBY ORDERED:
- pursuant to clause 2 of subsection 127(1) of the Act, Mr. Weber and Goldbridge cease trading, directly or indirectly, in securities for a period of 15 years except that Mr. Weber may trade securities in any of his personal accounts in which he has sole legal and beneficial ownership, provided that:
- the securities are listed and posted for trading on the Toronto Stock Exchange, the New York Stock Exchange or NASDAQ (or their successor exchanges) or are issued by a mutual fund that is a reporting issuer;
- Mr. Weber does not own legally or beneficially more than one percent of the outstanding securities of the class or series of the class in question;
- Mr. Weber carry out any permitted trading through a registered dealer and through trading accounts opened in his name only (and he must close any trading accounts that are not in his name only); and
- Mr. Weber must give a copy of the Merits Decision, the Sanctions and Costs Decision and the Sanctions and Costs Order to any registered dealer through which he trades, in advance of any trading;
- pursuant to clause 2.1 of subsection 127(1) of the Act, Mr. Weber and Goldbridge are prohibited for a period of 15 years from acquiring any securities, except that Mr. Weber is permitted to acquire securities to allow the trading in securities permitted by and in accordance with paragraph (a) of this Order;
- pursuant to clause 3 of subsection 127(1) of the Act, any exemptions in Ontario securities law do not apply to Mr. Weber and Goldbridge for a period of 15 years;
- pursuant to clause 6 of subsection 127(1) of the Act, Mr. Weber is reprimanded by the Commission;
- pursuant to clause 7 of subsection 127(1) of the Act, Mr. Weber resign any position he holds as an officer or director of any issuer;
- pursuant to clause 8 of subsection 127(1) of the Act, Mr. Weber is prohibited from becoming or acting as an officer or director of any issuer for a period of 15 years;
- pursuant to section 127.1 of the Act, Mr. Weber and Goldbridge shall pay, jointly and severally, the costs of, or related to, this proceeding, in the amount of $45,278.75.
Dated at Toronto, Ontario this 26th day of October, 2011.
|" Mary G. Condon "
Mary G. Condon
|" Margot C. Howard "
Margot C. Howard