Securities Law & Instruments


FILE NO.:
2018-47

IN THE MATTER OF
VINCENT GEORGE BYRNE

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

September 6, 2018

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 Vincent George Byrne (Byrne) pursuant to subsections 127(1) and 127(10) of the Securities Act, RSO 1990, c S.5 (the Act);

                ON READING the Order of the Nova Scotia Securities Commission (NSSC) dated February 28, 2018 (the NSSC Order), with respect to Byrne and the Settlement Agreement between Byrne and NSSC Staff dated February 8, 2018, and on reading the materials filed by Staff, the correspondence and consent of Byrne dated August 27, 2018 and the draft Order consented to by Byrne;

                IT IS ORDERED THAT:

1.             pursuant to paragraph 2 of subsection 127(1) of the Act, trading in any securities by Byrne shall cease until February 28, 2021, except that Byrne may continue to trade in securities which are beneficially owned by Byrne or by those persons listed in Appendix "A" to the NSSC Order;

2.             pursuant to paragraph 3 of subsection 127(1) of the Act, any exemptions contained in Ontario securities law shall not apply to Byrne until February 28, 2028;

3.             pursuant to paragraphs 7, 8.1 and 8.3 of subsection 127(1) of the Act, Byrne shall resign any positions that he holds as a director or officer of any issuer, registrant, or investment fund manager;

4.             pursuant to paragraphs 8, 8.2 and 8.4 of subsection 127(1) of the Act, Byrne is prohibited from becoming or acting as a director or officer of any issuer, registrant, or investment fund manager, until February 28, 2023;

5.             pursuant to paragraph 1 of subsection 127(1) of the Act, should Byrne seek registration in Ontario after February 28, 2023, terms and conditions of close supervision and monthly reporting shall be imposed upon any grant of registration to Byrne, for a period of five years from the date registration is granted; and

6.             pursuant to subsection 9(1)(b) of the Statutory Powers Procedures Act,1 Appendix “A” to the draft of the NSSC Order appended as Schedule A of the Settlement Agreement between the NSSC and Byrne, dated the 8th day of February, 2018 reproduced at Tab 1 and appended to the NSSC Order and the Settlement Agreement reproduced as Tab 2 of Staff’s Hearing Brief, marked as Exhibit 1 in this written hearing, shall be kept confidential.

“D. Grant Vingoe”

1       RSO 1990, c S.22.