Securities Law & Instruments

FILE NO.: 2018-29

 

IN THE MATTER OF

KLAAS VANTOOREN

 

Robert P. Hutchison, Commissioner and Chair of the Panel

 

July 3, 2018

 

ORDER

Subsections 127(1) and 127(10) of the

Securities Act, RSO 1990, c S.5

 

                WHEREAS the Ontario Securities Commission (the Commission) held a hearing, in writing, to consider a request by Staff of the Commission (Staff) for an order imposing sanctions against Klaas Vantooren (Vantooren) pursuant to subsections 127(1) and 127(10) of the Securities Act, RSO 1990, c S.5 (the Act);

 

                ON READING the Settlement Agreement and Undertaking between Vantooren and the Alberta Securities Commission dated December 19, 2017 (the Settlement Agreement) and on reading the materials filed by Staff, Vantooren not having filed any materials, although properly served;

 

                IT IS ORDERED THAT:

 

1.             pursuant to paragraph 2 of subsection 127(1) of the Act, trading in securities or derivatives by Vantooren cease until December 19, 2027, except that this Order does not preclude Vantooren from trading in securities or derivatives through a registrant (who has first been given a copy of the Settlement Agreement, and a copy of this Order), in accounts maintained with that registrant for the benefit of one or more of himself and members of his immediate family, being Vantooren’s spouse and dependent children;

 

2.             pursuant to paragraph 2.1 of subsection 127(1) of the Act, the acquisition of any securities by Vantooren cease until December 19, 2027, except that this Order does not preclude Vantooren from purchasing securities through a registrant (who has first been given a copy of the Settlement Agreement, and a copy of this Order), in accounts maintained with that registrant for the benefit of one or more of himself and members of his immediate family, being Vantooren’s spouse and dependent children;

 

3.             pursuant to paragraph 3 of subsection 127(1) of the Act, any exemptions contained in Ontario securities law do not apply to Vantooren until December 19, 2027;

 

4.             pursuant to paragraphs 7 and 8.1 of subsection 127(1) of the Act, Vantooren resign any positions that he holds as a director or officer of any issuer or registrant;

 

5.             pursuant to paragraphs 8 and 8.2 of subsection 127(1) of the Act, Vantooren is prohibited until December 19, 2027 from becoming or acting as a director or officer of any issuer or registrant; and

 

6.             pursuant to paragraph 8.5 of subsection 127(1) of the Act, Vantooren is prohibited until December 19, 2027 from becoming or acting as a registrant or promoter.

“Robert P. Hutchison”