Proceedings

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FILE NO.: 2018-72

IN THE MATTER OF
PAUL WEBSTER

Lawrence P. Haber, Commissioner and Chair of the Panel

January 4, 2019

ORDER

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



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

ON READING the Settlement Agreement between Webster and the British Columbia Securities Commission (the BCSC) dated July 24, 2018 and on reading the materials filed by Staff, Webster not having filed any materials, although properly served;

IT IS ORDERED THAT:

  1. until the later of July 24, 2030, or the date on which the amount in paragraph 2(3) of the Order of the BCSC dated July 24, 2018 (the BCSC Order) has been paid:
    1. pursuant to paragraphs 2 and 2.1 of subsection 127(1) of the Act, trading in any securities or derivatives, or acquisition of any securities, by Webster cease, except that he may trade in securities or derivatives through a registrant in one non-registered account, one RRSP account and one TFSA account held in his own name, if he first provides copies of the BCSC Order and this Order to the registrant;
    2. pursuant to paragraph 3 of subsection 127(1) of the Act, any exemptions contained in Ontario securities law do not apply to Webster;
    3. pursuant to paragraphs 7, 8.1 and 8.3 of subsection 127(1) of the Act, Webster resign any positions that 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, Webster be prohibited from becoming or acting as a director or officer of any issuer or registrant, except that Webster may become or act as an officer or director of a company of which he owns all the shares; and
    5. pursuant to paragraph 8.5 of subsection 127(1) of the Act, Webster be prohibited from becoming or acting as a registrant or promoter.


" Lawrence P. Haber "
Lawrence P. Haber