Proceedings

PDF Version
PDF Version




IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5, as amended

- and -

WILTON J. NEALE, MULTIPLE STREAMS OF INCOME (MSI) INC.
and 360 DEGREE FINANCIAL SERVICES INC.

ORDER



WHEREAS on March 12, 2010, the Commission issued a Notice of Hearing pursuant to section 127 of the Securities Act (the “Act”) in respect of a breach of an Order of the Ontario Securities Commission (the “Commission”) by Wilton J. Neale, Multiple Streams of Income (MSI) Inc. and 360 Degree Financial Services Inc. (the “Respondents”);

AND WHEREAS on March 12, 2010, Staff of the Commission filed a Statement of Allegations;

AND WHEREAS the Respondents entered into a Settlement Agreement September 29, 2010, (the “Settlement Agreement”) in relation to the matters set out in the Statement of Allegations;

UPON reviewing the Settlement Agreement, the Notice of Hearing, the Statement of Allegations, and upon considering submissions from the respondents and from Staff of the Commission;

AND WHEREAS the Commission is of the opinion that it is in the public interest to make this Order;

IT IS HEREBY ORDERED THAT:

  1. The Settlement Agreement dated September 29, 2010, between Staff of the Commission and the Respondents is approved;
  2. Pursuant to s. 127(1)2, Wilton J. Neale (“Neale”) is prohibited for 15 years from trading in securities;
  3. Pursuant to s. 127(1)8, Neale is prohibited for 15 years from becoming or acting as a director or officer of any market participant;
  4. Upon approval of this Settlement Agreement, Neale will pay costs of the investigation of this matter to the Commission in the amount of $10,000;
  5. Neale will disgorge the sum of $265,179 to the Commission for the benefit of third parties pursuant to s. 3.4(2)(b) of the Act;
  6. The Respondents will pay an administrative penalty of $500,000 pursuant to s. 3.4(2)(b) of the Act; and
  7. Neale will attend the hearing in person and be reprimanded.

Dated at Toronto, Ontario this 1st day of October, 2010.

 

" Patrick J. LeSage "