IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5, AS AMENDED
- AND -
IN THE MATTER OF
EDWARD FURTAK, AXTON 2010 FINANCE CORP.,
STRICT TRADING LIMITED, RONALD OLSTHOORN,
TRAFALGAR ASSOCIATES LIMITED, LORNE ALLEN and
STRICTRADE MARKETING INC.
- On March 30, 2015 the Ontario Securities Commission (the “Commission”) issued a Notice of Hearing pursuant to sections 127 and 127.1 of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”) in connection with a Statement of Allegations filed by Staff of the Commission (“Staff”) on March 30, 2015 with respect to Edward Furtak, Axton 2010 Finance Corp., Strict Trading Limited, Ronald Oslthoorn, Trafalgar Associates Limited, Lorne Allen and Strictrade Marketing Inc. (collectively, the “Respondents”);
- On April 27, 2015, counsel for each of Staff and the Respondents appeared before the Commission for a First Appearance and made submissions;
- On April 27, 2015, the Commission ordered that:
- The Respondents’ motion with respect to the bifurcation of the Commission proceeding would be heard on Wednesday, June 24, 2015 at 10:00 a.m.;
- The timing for the delivery of Staff’s witness list, witness statements and an indication of Staff’s intent to call an expert witness would be determined by the panel hearing the motion; and
- The Second Appearance would be held on Monday, September 28, 2015 at 10:00 a.m., or as soon thereafter as the hearing can be held;
- On June 24, 2015, the Commission heard oral submissions from counsel for each of the Respondents and Staff and reviewed the materials submitted by the parties for the motion on bifurcating the hearing;
- On June 24, 2015, the Commission ordered that:
- The Respondents’ motion to bifurcate the hearing on the merits is dismissed;
- Any motions with respect to Staff’s disclosure shall be brought by the Respondents by Friday, September 18, 2015; and
- Staff shall provide Staff’s list of witnesses and witness statements and indicate whether it is Staff’s intention to call an expert witness by Wednesday, September 23, 2015;
- On September 28, 2015, counsel for Staff and counsel for the Respondents appeared before the Commission for a Second Appearance, and made submissions; and
- The Commission is of the opinion that it is in the public interest to make this Order;
IT IS HEREBY ORDERED that:
- The Respondents shall provide the Respondents’ list of witnesses and summaries, and indicate whether it is the Respondents’ intention to call an expert witness by Monday, October 26, 2015;
- The Third Appearance shall be held on Wednesday, November 25, 2015 at 2:00 p.m., or as soon thereafter as the hearing can be held; and
- At the Third Appearance, counsel for the Respondents will advise the Commission on the outcome of steps taken to address the issue, if any, of her representation of all of the Respondents at the hearing on the merits.
DATED at Toronto this 28th day of September, 2015.
" Mary Condon"
" Janet Leiper"