Proceedings

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IN THE MATTER OF
THE SECURITIES ACT, RSO 1990, c S.5

- AND -

IN THE MATTER OF LIAHONA MORTGAGE INVESTMENT CORP., LIAHONA ADMINISTRATION INC., AARON RUMLEY, ROBERT RUMLEY AND ROBERT CHAGGARES

ORDER

(Sections 127 and 127.1 of the Securities Act)




WHEREAS:

  1. on February 16, 2016, the Ontario Securities Commission (the “Commission”) issued a Notice of Hearing (the “Notice of Hearing”) in relation to a Statement of Allegations filed by Staff of the Commission (“Staff”) (the “Statement of Allegations”) on February 16, 2016, in respect of Liahona Mortgage Investment Corp., Liahona Administration Inc., Aaron Rumley, Robert Rumley and Robert Chaggares (collectively, the “Respondents”);
  2. the Notice of Hearing gave notice that on February 18, 2016, the Commission would hold a hearing to consider whether it is in the public interest to approve a settlement agreement between Staff and the Respondents dated February 12, 2016 (the “Settlement Agreement”);
  3. the Commission reviewed the Settlement Agreement, the Notice of Hearing and the Statement of Allegations, and heard submissions from counsel for the Respondents and counsel for Staff; and
  4. the Commission is of the opinion that it is in the public interest to make this order;

IT IS ORDERED THAT:

  1. the Settlement Agreement be approved;
  2. pursuant to paragraph 6 of subsection 127(1) of the Securities Act (the “Act”), each of the Respondents be reprimanded;
  3. pursuant to paragraph 9 of subsection 127(1) of the Act, the Respondents shall, jointly and severally, pay to the Commission an administrative penalty of $50,000, which is designated for allocation or for use by the Commission in accordance with subparagraphs (b)(i) or (ii) of subsection 3.4(2) of the Act; and
  4. pursuant to section 127.1 of the Act, the Respondents shall, jointly and severally, pay costs in the amount of $45,000 to the Commission.

DATED at Toronto this 18th day of February, 2016.

 



"Timothy Moseley "
Timothy Moseley