Proceedings

 

IN THE MATTER OF THE SECURITIES ACT
R.S.O. 1990, c. S.5, AS AMENDED

AND

IN THE MATTER OF
ANWAR HEIDARY AND JAMES SYLVESTER

ORDER
(Section 127(1))

WHEREAS on September 7, 1999, the Ontario Securities Commission (the "Commission") issued a notice of hearing pursuant to section 127(1) of the SecuritiesAct (the "Act") in respect of Anwar Heidary ("Heidary");

AND WHEREAS Heidary entered into a settlement agreement dated January 21,2000 (the "Settlement Agreement") in which he agreed to a proposed settlement of theproceeding, subject to the approval of the Commission;

AND UPON reviewing the Settlement Agreement and the statement ofallegations of Staff of the Commission, and upon hearing submissions from counsel forHeidary and from Staff of the Commission;

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

IT IS ORDERED THAT:

(1) the Settlement Agreement dated January 21, 2000, attached to this Order, ishereby approved; and

(2) pursuant to clause 2 of subsection 127(1) of the Act, Heidary is prohibited fromtrading in securities for a period of five years from the date of this Order with thefollowing exceptions:

i. Heidary is permitted to trade in securities for his own account; and

ii. If at any time commencing two years from the date of this Order Heidaryattains the requisite educational requirements and satisfies the Director ofCapital Markets that he is suitable for registration to sell mutual funds orscholarship plans, this Order will be varied to permit Heidary to beregistered to sell mutual funds or scholarship plans.

January 26th, 2000.

"J. A. Geller"
"Morley P. Carscallen"
"R. Stephen Paddon"