Proceedings

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IN THE MATTER OF THE SECURITIES ACT,

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

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IN THE MATTER OF

ROBERT THOMISLAV ADZIJA, LARRY ALLEN AYRES, DAVID ARTHUR

BENDING, MARLENE BERRY, DOUGLAS CROSS, ALLAN JOSEPH DORSEY,

ALLAN EIZENGA, GUY FANGEAT, RICHARD JULES FANGEAT, MICHAEL

HERSEY, GEORGE EDWARD HOLMES, TODD MICHAEL JOHNSTON, MICHAEL

THOMAS PETER KENNELLY, JOHN DOUGLAS KIRBY, ERNEST KISS,

ARTHUR KRICK, FRANK ALAN LATAM, BRIAN LAWRENCE, LUKE JOHN

MCGEE, RON MASSCHAELE, JOHN NEWMAN, RANDALL NOVAK, NORMAND

RIOPELLE, ROBERT LOUIS RIZZUTO AND MICHAEL VAUGHAN


ORDER

(Subsection 127(1) and section 127.1)

WHEREAS on September 24, 1998, the Ontario Securities Commission (the "Commission") issued a Notice of Hearing pursuant to section 127 of the Securities Act, R.S.O. 1990, c. S.5, as amended (the "Act") respecting George Edward Holmes ('Holmes") and others;

AND WHEREAS on September 24, 1998, the Commission made a Temporary Order as against Holmes and others, such Temporary Order which was extended by Commission Orders dated October 9, 1998 and February 5, 1999 (the "Temporary Order");

AND WHEREAS Holmes entered into a Settlement Agreement executed December 6, 2002 and December 13, 2002 (the "Settlement Agreement") in which he agreed to a proposed settlement of the proceedings, subject to the approval of the Commission;

AND UPON reviewing the Settlement Agreement and the Statement of Allegations of Staff of the Commission and upon hearing submissions from Holmes 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 pursuant to subsection 127(1) and section 127.1 of the Act;

IT IS ORDERED THAT:

  1. the attached Settlement Agreement is approved;

  2. pursuant to subsection 127(1), paragraph 1, Holmes' registration with the Commission is suspended for eleven months commencing on the date of this Order;

  3. pursuant to subsection 127(1), paragraph 2, trading in any securities by Holmes cease for eleven months commencing on the date of this Order;

  4. pursuant to subsection 127(1), paragraph 1, Holmes must successfully complete the Canadian Securities Course in order for his registration to be reinstated following the suspension;

  5. pursuant to subsection 127(1), paragraph 6, Holmes is reprimanded;

  6. the Temporary Order as against Holmes no longer has any force or effect; and

  7. pursuant to section 127.1, Holmes will pay costs to the Commission in the amount of $1,700.




DATED at Toronto this 19th day of December, 2002

 

 

"Lorne Morphy"
"Robert Davis"
Lorne Morphy
Robert Davis