Proceedings

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FILE NO.: 2018-64



IN THE MATTER OF
KEIR REYNOLDS

Robert P. Hutchison, Commissioner and Chair of the Panel

January 22, 2019

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 Keir Reynolds (Reynolds) 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 Reynolds and the British Columbia Securities Commission (the BCSC) dated July 3, 2018, and the BCSC Order dated July 3, 2018 with respect to Reynolds,and on reading the materials filed by Staff and the representativefor Reynolds;

IT IS ORDERED THAT:

  1. Pursuant to paragraphs 2 and 2.1 of subsection 127(1) of the Act, Reynolds shall cease trading in any securities or derivatives, or purchasing any securities, of any issuer he is in a special relationship with until July 3, 2021, except that:
      1. Reynolds may receive their securities as payment for services he provided to them (the Compensation Shares) pursuant to a valid agreement (the Agreement) and on the condition that he is not permitted to trade the Compensation Shares until the earlier of:
        1. three months after the Agreement has concluded, or
        2. July 3, 2021, being the end date of the three-year trading ban pursuant to paragraphs 2 and 2.1 of subsection 127(1) of the Act,
        provided Reynolds is otherwise entitled to do so under all applicable laws and regulations;
  2. Pursuant to paragraph 7 of subsection 127(1) of the Act, Reynolds shall resign any positions that he holds as a director or officer of any issuer that issues securities to the public; and
  3. Pursuant to paragraph 8 of subsection 127(1) of the Act, Reynolds is prohibited until July 3, 2021 from becoming or acting as a director or officer of any issuer that issues securities to the public.


" Robert P. Hutchison "
Robert P. Hutchison