Proceedings

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FILE NO.: 2019-9

 

IN THE MATTER OF
ALAIN ARMAND THEROUX

D. Grant Vingoe, Vice-Chair and Chair of the Panel

June 3, 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 Enforcement Branch of the Commission (Staff) for an order imposing sanctions against Alain Armand Theroux (Theroux) pursuant to subsections 127(1) and 127(10) of the Securities Act, RSO 1990, C S.5 (the Act);

ON READING the Guilty Plea Proceedings before the Ontario Court of Justice (OCJ) dated April 19, 2018, and the Reasons for Sentence of the OCJ dated July 24, 2018, with respect to Theroux, and on reading the materials filed by Staff and the materials filed by the representative for Theroux;

IT IS ORDERED THAT:

  1. pursuant to paragraph 2 of subsection 127(1) of the Act, trading in any securities or derivatives by Theroux shall cease permanently, except that this order does not preclude Theroux from trading in securities or derivatives in a registered retirement savings plan, registered education savings plan, any registered retirement income funds, and/or tax-free savings account (as defined in the Income Tax Act (Canada)) in which he has a beneficial ownership, provided that he carries out any permitted trading through a registered dealer (which dealer must be given a copy of this Order) and through accounts opened in his name only;
  2. pursuant to paragraph 2.1 of subsection 127(1) of the Act, acquisition of any securities by Theroux shall be prohibited permanently, except that this order does not preclude Theroux from purchasing securities or derivatives in a registered retirement savings plan, registered education savings plan, any registered retirement income funds, and/or tax-free savings account (as defined in the Income Tax Act (Canada)) in which he has a beneficial ownership, provided that he carries out any permitted acquisitions through a registered dealer (which dealer must be given a copy of this Order) and through accounts opened in his name only;
  3. pursuant to paragraph 3 of subsection 127(1) of the Act, any exemptions contained in Ontario securities law shall not apply to Theroux permanently;
  4. pursuant to paragraphs 7 and 8.1 of subsection 127(1) of the Act, Theroux shall resign any positions that he holds as a director or officer of any issuer or registrant;
  5. pursuant to paragraphs 8 and 8.2 of subsection 127(1) of the Act, Theroux is prohibited permanently from being or acting as a director or officer of any issuer or registrant; and
  6. pursuant to paragraph 8.5 of subsection 127(1) of the Act, Theroux is prohibited permanently from becoming or acting as a registrant or promoter.

 
" D. Grant Vingoe "
D. Grant Vingoe