Proceedings

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File No. 2017-72


IN THE MATTER OF
ASSANTE CAPITAL MANAGEMENT LTD. and
ASSANTE FINANCIAL MANAGEMENT LTD.

Philip Anisman, Commissioner and Chair of the Panel
AnneMarie Ryan, Commissioner
Robert P. Hutchison, Commissioner

December 21, 2017

ORDER

Subsection 127(1) of the
Securities Act, RSO 1990, c S.5


WHEREAS on December 21, 2017, the Ontario Securities Commission held a hearing at 20 Queen Street West, 17th Floor, Toronto, Ontario to consider an application made jointly by Staff of the Commission (Staff) and Assante Capital Management Ltd. and Assante Financial Management Ltd. (the Assante Dealers) for approval of a settlement agreement dated December 18, 2017 (the Settlement Agreement);

ON READING the Statement of Allegations dated December 18, 2017 and the Joint Application Record for a Settlement Hearing dated December 18, 2017, including the Settlement Agreement, in which the Assante Dealers undertake to

    1. pay compensation to eligible clients and former clients and report to a manager or deputy director in the Compliance and Registrant Regulation Branch of the Commission, in accordance with a plan submitted by them to Staff,
    2. make a voluntary payment of $25,000 to reimburse the Commission for costs incurred or to be incurred by it, and
    3. make a further voluntary payment of $140,000 to be designated for allocation or use by the Commission in accordance with paragraph 3.4(2)(b)(i) or (ii) of the Act;

AND ON HEARING the submissions of counsel for the Assante Dealers and Staff, including that the voluntary payments of $25,000 for costs and $140,000 for designation by the Commission have been received by the Commission in accordance with the terms of the Settlement Agreement;

IT IS ORDERED THAT:

    1. the Settlement Agreement is approved; and
    2. the voluntary payment of $140,000 paid to the Commission is designated for allocation or use by the Commission in accordance with subparagraph 3.4(2)(b)(i) or (ii) of the Act.

" Philip Anisman "
Philip Anisman
" AnneMarie Ryan "
AnneMarie Ryan
" Robert P. Hutchison "
Robert P. Hutchison