Proceedings

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FILE NO.: 2018-58



IN THE MATTER OF
LARRY LEE

Timothy Moseley, Vice-Chair and Chair of the Panel

December 4, 2018

ORDER

(Subsections 127(1) and 127(10) of the Securities Act, RSO 1990, c S.5)

WHEREAS the Ontario Securities Commission held a hearing in writing to consider a request by staff of the Ontario Securities Commission (Staff) for an order imposing sanctions against Larry Lee pursuant to subsections 127(1) and 127(10) of the Securities Act, RSO 1990, c S.5 (the Act);

ON READING the settlement agreement entered into between the Executive Director of the British Columbia Securities Commission (BCSC) and Mr. Lee on July 31, 2018, and the order of the BCSC dated July 31, 2018, and on reading the materials filed by Staff and Mr. Lee;  

IT IS ORDERED THAT:

  1. pursuant to paragraphs 2 and 2.1 of subsection 127(1) of the Act, Mr. Lee be permanently prohibited from trading in any securities or derivatives, and from acquiring any securities, except that he may trade securities or derivatives, and may acquire securities, for his own account (including one RRSP account, one TFSA account and one RESP account) through a registered dealer who has been provided with a copy of this order;
  2. pursuant to paragraph 3 of subsection 127(1) of the Act, any exemptions contained in Ontario securities law shall not apply to Mr. Lee permanently;
  3. pursuant to paragraphs 7, 8.1 and 8.3 of subsection 127(1) of the Act, Mr. Lee resign any positions he holds as a director or officer of any issuer or registrant;
  4. pursuant to paragraphs 8, 8.2 and 8.4 of subsection 127(1) of the Act, Mr. Lee be prohibited permanently from becoming or acting as a director or officer of any issuer or registrant; and
  5. pursuant to paragraph 8.5 of subsection 127(1) of the Act, Mr. Lee be prohibited permanently from becoming or acting as a registrant or promoter.


" Timothy Moseley "
Timothy Moseley