IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5, AS AMENDED
- and -
IN THE MATTER OF
LANCE KOTTON and TITAN EQUITY GROUP LTD.
(Subsections 127(1) and 127(5))
- it appears to the Ontario Securities Commission (the “Commission”) that:
- Lance Kotton (“Kotton”) is a resident of Vaughan, Ontario;
- Titan Equity Group Ltd. (“TEG”) is a corporation incorporated pursuant to the laws of Ontario;
- Kotton is a director and officer of TEG;
- Kotton and TEG are not registered with the Commission in any capacity;
- Kotton and TEG may have engaged in, and may be continuing to engage in, breaches of Ontario securities law by:
- engaging in or holding themselves out to be in the business of trading securities without being registered in accordance with Ontario securities law and without an exemption from the registration requirement, contrary to subsection 25(1) of the Securities Act, R.S.O. 1990, c.S.5, as amended (the “Act”);
- trading in securities, where such trades constituted distributions of the securities, in circumstances in which no preliminary prospectus or prospectus had been filed or receipts issued therefor, and without an exemption from the prospectus requirement, contrary to subsection 53(1) of the Act;
- misappropriating investor funds for Kotton’s personal use, contrary to section 126.1 of the Act;
- making misleading statements to investors, contrary to section 126.2 of the Act; and/or
- acting contrary to the public interest.
- Kotton may have authorized, permitted or acquiesced in TEG’s noncompliance with Ontario securities law contrary to section 129.2 of the Act; and
- Staff are conducting an investigation into the conduct described above;
- the Commission is of the opinion that the time required to conclude a hearing could be prejudicial to the public interest as set out in subsection 127(5) of the Act;
- the Commission is of the opinion that it is in the public interest to make this Order;
- by Authorization Order made August 21, 2015, pursuant to subsection 3.5(3) of the Act, each of Howard I. Wetston, Monica Kowal, D. Grant Vingoe, Mary G. Condon, Edward P. Kerwin, Janet Leiper, Alan J. Lenczner, Timothy Moseley, and Christopher Portner, acting alone, is authorized to make orders under section 127 of the Act.
IT IS ORDERED pursuant to section 127 of the Act that:
- pursuant to clause 2 of subsection 127(1), trading in any securities by Kotton and TEG shall cease;
- pursuant to clause 3 of subsection 127(1), any exemptions contained in Ontario securities law do not apply to Kotton or TEG; and
- pursuant to subsection 127(6) of the Act, this Order shall take effect immediately and shall expire on the 15th day after its making unless extended by the Commission.
DATED at Toronto, this “6th” day of November, 2015.
" Grant Vingoe "