Proceedings

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FILE NO.: 2019-20

 

IN THE MATTER OF
DAVID MICHAEL MICHAELS

Lawrence P. Haber, Commissioner and Chair of the Panel

 

June 25, 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 writingto consider a request by staff of the Commission (Staff) for an order imposing sanctions against David Michael Michaels (Michaels) pursuant to subsections 127(1) and 127(10) of the Securities Act, RSO 1990, c S.5 (the Act);

ON READING the Findings of the British Columbia Securities Commission (the BCSC) dated August 6, 2014 and the Decision of the BCSC dated October 31, 2014 (the BCSC Sanctions Order) with respect to Michaels, and on reading the materials filed by Staff;

IT IS ORDERED THAT:

  1. pursuant to paragraph 2 of s. 127(1) of the Act, trading in any securities by Michaels cease permanently, except that he may trade securities for his own account through a registrant, if he gives the registrant copies of the BCSC Sanctions Order and this Order;
  2. pursuant to paragraph 2.1 of s. 127(1) of the Act, the acquisition of any securities by Michaels cease permanently, except he may purchase securities for his own account through a registrant, if he gives the registrant copies of the BCSC Sanctions Order and this Order;
  3. pursuant to paragraph 3 of s. 127(1) of the Act, any exemptions contained in Ontario securities law do not apply to Michaels permanently, except for those exemptions necessary to enable him to trade or purchase securities in his own account;
  4. pursuant to paragraphs 7 and 8.1 of s. 127(1) of the Act, Michaels 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 s. 127(1) of the Act, Michaels is prohibited permanently from becoming or acting as a director or officer of any issuer or registrant; and
  6. pursuant to paragraph 8.5 of s. 127(1) of the Act, Michaels is prohibited permanently from becoming or acting as a registrant or promoter.
 
" Lawrence P. Haber "
Lawrence P. Haber