Ontario Securities Commission Dismisses Rankin Application

TORONTO – The Ontario Securities Commission yesterday dismissed Andrew Rankin’s application under section 144 of the Securities Act (Ontario). Rankin had requested that the Commission revoke the order of the Commission dated February 21, 2008 approving and giving effect to the settlement agreement between Rankin and Staff of the Commission dated February 19, 2008.

The Commission considered the application after dismissing Staff ‘s motion that the Commission did not have jurisdiction under section 144 of the Act to hear the application.

The Commission dismissed Rankin’s application and found that Rankin had not satisfied the onus of establishing sufficient grounds to revoke the Commission order approving and giving effect to the Rankin Settlement agreement. A copy of the Reasons and Decision is available on the Commission website at www.osc.ca.

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