Securities Law & Instruments

IN THE MATTER OF

THE SECURITIES ACT,

R.S.O. 1990, c. S.5, As Amended

AND

IN THE MATTER OF

BUCKINGHAM SECURITIES CORPORATION,

LLOYD BRUCE,

DAVID BROMBERG,

HAROLD SEIDEL,

RAMPART SECURITIES INC.,

W.D. LATIMER CO. LIMITED,

CANACCORD CAPITAL CORPORATION,

BMO NESBITT BURNS INC.,

BEAR, STEARNS & CO. INC.,

DUNDEE SECURITIES CORPORATION

CALDWELL SECURITIES LIMITED, AND

LAURENTIAN SECURITIES BANK

 

ORDER

(Section 127)

WHEREAS on the 6th day of July, 2001, the Ontario Securities Commission (the "Commission") ordered, pursuant to clause 2 of subsection 127(1) of the Securities Act, R.S.O.1990, C.S.5, as amended (the "Act"), that trading in any securities by Buckingham Securities Corporation ("Buckingham"), Lloyd Bruce ("Bruce"), David Bromberg ("Bromberg") and Harold Seidel ("Seidel") cease;

AND WHEREAS the Commission further ordered that pursuant to clause 2 of subsection 127(1) of the Act that trading in securities by Rampart Securities Inc., W.D. Latimer Co. Limited ("Latimer") Canaccord Capital Corporation, BMO Nesbitt Burns Inc., Bear Stearns & Co. Inc., Dundee Securities Corporation, Caldwell Securities Limited and B2B Trust (collectively, referred to as the "Brokers") cease, on the term that trading cease by the Brokers only in respect of securities held in an account or accounts in the name of Buckingham with each of the Brokers (collectively referred to in this paragraph and the aforementioned paragraphs as the "Temporary Order")

AND WHEREAS on July 20, 2001, the Commission varied the provisions of the Temporary Order so as to substitute the name Laurentian Bank Securities for B2B Trust, and extend the term of the Temporary Order (collectively, the "Extension Order");

AND WHEREAS the Commission has been advised that the application by the Commission (through its Staff) to the Ontario Superior Court of Justice for the appointment of BDO Dunwoody Limited as Receiver and Manager of the property, assets and undertaking of Buckingham was granted on July 26, 2001 pursuant to an order of the Ontario Superior Court of Justice ("the Appointment Order");

AND WHEREAS pursuant to the Appointment Order, the Receiver has the power to take possession and control of the securities held in any account in the name of Buckingham, and complete a sale thereof;

AND WHEREAS pursuant to an order dated February 27, 2004 the Ontario Superior Court of Justice has authorized and directed the Receiver to enter into an agreement with Latimer for the purpose of liquidating the securities held by the Receiver;

AND WHEREAS the Commission considers it to be in the public interest to make this Order;

IT IS HEREBY ORDERED pursuant to section 144(1) of the Act that the Temporary Order made by the Commission on July 6, 2001, as varied and extended by the Extension Order, shall cease to apply only as against the Brokers and the Receiver, effective immediately, to the extent necessary to permit trading to be conducted by, on behalf of or with the consent of the Receiver, in any securities held in an account or accounts in the name of Buckingham.

March 30, 2004.

"Paul M. Moore"
"Paul K. Bates"