IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5 AS AMENDED
- AND -
IN THE MATTER OF
WHEREAS on February 24, 2011, the Ontario Securities Commission (the “Commission”) issued a Notice of Hearing pursuant to section 127 of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”) in relation to a Statement of Allegations filed by Staff of the Commission (“Staff”) on February 24, 2011 with respect to Peter Sbaraglia (“Sbaraglia”);
AND WHEREAS Sbaraglia entered into a Settlement Agreement dated March 4, 2013, (the “Settlement Agreement”) in relation to the matters set out in the Statement of Allegations;
AND WHEREAS the Commission issued a Notice of Hearing dated March 4, 2013, setting out that it proposed to consider the Settlement Agreement;
UPON reviewing the Settlement Agreement, the Notice of Hearing, the Statement of Allegations, and upon considering submissions from Sbaraglia through his counsel 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 is approved.
- Pursuant to clause 2 and 2.1 of subsection 127(1) of the Act, that the acquisition of and trading in any securities by the Respondent shall permanently cease, with the exception that the Respondent shall be permitted to acquire and trade securities for the account of his registered retirement savings plans as defined in the Income Tax Act, R.S.C. 1985, c.1, as amended (the “Income Tax Act”), solely through a registered dealer or, as appropriate, a registered dealer in a foreign jurisdiction (which dealer must be given a copy of this Order) in (a) any “exchange-traded security” or “foreign exchange-traded security” within the meaning of National Instrument 21-101 provided that he does not own beneficially or exercise control or direction over more than 5 percent of the voting or equity securities of the issuer(s) of any such securities, or (b) any security issued by a mutual fund that is a reporting issuer.
- The Respondent shall not provide monies to his spouse for the purpose of acquiring or trading in any securities.
- Any exemptions contained in Ontario securities law shall permanently not apply to the Respondent.
- The Respondent shall be reprimanded.
- The Respondent shall immediately resign from any position he holds as a director or officer of any issuer, except CO and Dr. Sbaraglia Professional Dentistry Corporation.
- The Respondent shall permanently be prohibited from becoming or acting as a director or officer of any issuer.
- The Respondent shall permanently be prohibited from becoming or acting as a director or officer of a registrant.
- The Respondent shall permanently be prohibited from becoming or acting as a director or officer of an investment fund manager.
- The Respondent shall permanently be prohibited from becoming or acting as a registrant, as an investment fund manager or as a promoter.
Dated at Toronto, Ontario this 5th day of March, 2013.
Alan J. Lenczner