Securities Law & Instruments

IN THE MATTER OF

THE SECURITIES ACT,

R.S.O. 1990, c. S.5, AS AMENDED

AND

IN THE MATTER OF

DARREN DELAGE

 

ORDER

WHEREAS on March 31, 2008 the Commission issued a Notice of Hearing pursuant to section 127 of the Securities Act (the "Act") in respect of Darren Delage's trading in the shares of Environmental Applied Research Technology House-Earth (Canada) Corporation;

AND WHEREAS on March 31, 2008, Staff of the Commission filed a Statement of Allegations;

AND WHEREAS Darren Delage entered into a settlement agreement dated January 13, 2009 (the "Settlement Agreement") in relation to the matters set out in the Statement of Allegations;

AND WHEREAS the Commission issued a Notice of Hearing dated January 13, 2009 setting out that it proposed to consider the Settlement Agreement;

UPON reviewing the Settlement Agreement, the Notice of Hearing, the Statement of Allegations, and upon considering submissions from counsel for Darren Delage 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, PURSUANT TO SECTIONS 127 AND 127.1 OF THE ACT, THAT:

(a) the Settlement Agreement is hereby approved;

(b) The registration granted to the Respondent under Ontario securities law is suspended for a period of 4 months commencing on the date of this order, and the following term and condition be imposed on the Respondent's registration thereafter: the Respondent shall be subject to supervision by a registered officer (advising and trading) in the category of investment counsel and portfolio manager for a period of 2 years.

(c) Trading in any securities by the Respondent shall cease for a period of 4 months commencing on the date of the Commission's order, except that the Respondent may trade in securities in one RRSP account wholly beneficially owned by the Respondent and held at a full service registered dealer (which account the Respondent will identify in writing to the Staff of the Ontario Securities Commission), if the securities are

(i) securities referred to in clause 1 of subsection 35(2) of the Act;

(ii) in the case of securities other than those referred to in paragraph (i) above:

1. the securities are listed and posted for trading on The Toronto Stock Exchange or the New York Stock Exchange; and

2. the Respondent does not own directly or indirectly through another person or company or through any person or company acting on his behalf, more than one (1) percent of the outstanding securities of the class or series of the class in question;

(d) The Respondent is reprimanded;

(e) The Respondent shall complete the Conduct and Practices course of the Canadian Securities Institute within one year of the date of the Commission's order;

(f) The Respondent shall pay the costs of the Commission's investigation, in the amount of $7,000.00.

Dated at Toronto, Ontario this 15th day of January, 2009

"Suresh Thakrar"

"Kevin Kelly"