News & Events

News Release
Ontario Securities
Commission


20 Queen St. W.
Box 55, Suite 1900
Toronto, ON M5H 3S8
 Commission des valeurs mobilières de l'Ontario
 FOR IMMEDIATE RELEASE

September 2, 2009


OSC Approves Settlement Agreement with Shawn C. Lesperance


TORONTO – At a hearing held today, the Ontario Securities Commission (the “Commission”) approved a settlement agreement that was entered into with Staff of the Commission and Shawn C. Lesperance.

In the settlement agreement, Mr. Lesperance admitted that he breached a previous order of the Commission. Mr. Lesperance, the Treasurer and a Director of Goldbridge Financial Inc., admitted that he authorized, permitted or acquiesced in Goldbridge’s acceptance of a loan of $10,000 for the purpose of trading, while the company was subject to an order to trade only funds contributed by Mr. Lesperance or Wesley Weber, the company’s President. Mr. Lesperance admitted that his conduct was contrary to Ontario securities law and contrary to the public interest.

In approving the settlement agreement, the Commission ordered that:
  • Mr. Lesperance cease trading in securities for three years, except on his own behalf in a registered retirement savings plan account;
  • Mr. Lesperance is prohibited for three years from becoming or acting as a director or officer of an issuer; and
  • Mr. Lesperance is to pay investigation costs of $1000.

Copies of the settlement agreement and the Commission’s Order approving these agreements are available on the Commission’s website (www.osc.gov.on.ca).


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