Proceedings

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

AND

ROBERT KASNER

ORDER



        WHEREAS on June 26, 2008, the Commission issued a Notice of Hearing pursuant to section 127 of the Securities Act (the “Act”) in respect of the trading of securities in GLR Resources (“GLR”) by Robert Kasner (the “Respondent”);

        AND WHEREAS on June 25, 2008 Staff of the Commission filed a Statement of Allegations;

        AND WHEREAS the Respondent entered into a Settlement Agreement dated September 30, 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 September 29, 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 the Respondent through his agent 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 SECTION 127 OF THE ACT, THAT :
  1. The Settlement Agreement dated September 30, 2009, between Staff of the Commission and the Respondent is approved;
  2. The Respondent is prohibited for one year from trading in the securities of any issuer of which he is an officer, director or insider including but not limited to GLR;
  3. After the expiration of the sanction outlined in the preceding, the Respondent shall permanently not trade in GLR directly but only through i) a registrant or ii) a lawyer or accountant in accordance with section 34(b) of the Act to whom a copy of the Order is given and who agrees to such supervision and where such registrant, lawyer or accountant confirms that the trades of the Respondent are in compliance with Ontario securities law.
  4. The Respondent is to pay an administrative penalty of $8,000 to be allocated under s.3.4(2)(b) of the Act to or for the benefit of third parties.

Dated at Toronto, Ontario this 30th day of September, 2009.


"Patrick J. LeSage"
Patrick J. LeSage, Q.C.