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.
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:
- The Settlement Agreement dated September 29, 2010, between Staff of the Commission and the Respondents is approved;
- Pursuant to s. 127(1)2, Wilton J. Neale (“Neale”) is prohibited for 15 years from trading in securities;
- 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;
- 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;
- 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;
- The Respondents will pay an administrative penalty of $500,000 pursuant to s. 3.4(2)(b) of the Act; and
- Neale will attend the hearing in person and be reprimanded.
Dated at Toronto, Ontario this 1st day of October, 2010.