Order: In the Matter Travis Michael Hurst et al.

Order

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

- and -

IN THE MATTER OF
TRAVIS MICHAEL HURST, TERRY HURST
and BRYANT HURST

ORDER
(Subsections 127(1) and 127(10) of the Securities Act)



WHEREAS:

  1. on July 2, 2015, the Ontario Securities Commission (the “Commission”) issued a Notice of Hearing pursuant to sections 127(1) and 127(10) of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”) in respect of Travis Michael Hurst (“Travis”), Terry Hurst (“Terry”) and Bryant Hurst (“Bryant”) (collectively, the “Respondents”);
  2. on June 30, 2015, Staff of the Commission (“Staff”) filed a Statement of Allegations in respect of the same matter;
  3. on March 2, 2015, the Respondents entered into a Settlement Agreement and Undertaking with the Alberta Securities Commission (the “Settlement Agreement”);
  4. in the Settlement Agreement, the Respondents each agreed to certain undertakings and to be made subject to sanctions, conditions, restrictions or requirements within the province of Alberta;
  5. pursuant to paragraph 5 of subsection 127(10) of the Act, an order may be made in respect of a person or company if the person or company has agreed with a securities regulatory authority, derivatives regulatory authority or financial regulatory authority, in any jurisdiction, to be made subject to sanctions, conditions, restrictions or requirements;
  6. on July 22, 2015, Staff appeared before the Commission and made submissions, and filed an affidavit of service sworn by Lee Crann on July 20, 2015, indicating steps taken by Staff to serve the Respondents with the Notice of Hearing, Statement of Allegations, and Staff’s disclosure materials (Exhibit 1);
  7. on July 22, 2015, Bryant did not appear or make submissions, but Staff filed a consent dated July 20, 2015, by which Bryant agreed to the issuance of this order (Exhibit 2);
  8. on July 22, 2015, Travis and Terry did not appear or make submissions;
  9. on July 22, 2015, the Commission ordered that the hearing in this matter be adjourned to July 24, 2015 at 10:00 a.m.;
  10. on July 24, 2015, the Commission considered an application by Staff to convert the matter to a written hearing, in accordance with Rule 11.5 of the Commission’s Rules of Procedure (2014), 37 O.S.C.B. 4168, and subsection 5.1(1) of the Statutory Powers Procedure Act, R.S.O. 1990, c. S.22, as amended;
  11. on July 24, 2015, Staff filed (i) a Supplementary Affidavit of Service of Lee Crann sworn July 23, 2015, indicating steps taken by Staff to serve the Respondents with the Notice of Hearing, Statement of Allegations, and Staff's disclosure materials (Exhibit 3); and (ii) an Affidavit of Service of Lee Crann sworn July 24, 2015, indicating steps taken by Staff to serve the Respondents with the Commission's order of July 22, 2015 (Exhibit 4);
  12. on July 24, 2015, the Respondents did not appear or make submissions;
  13. on July 24, 2015, the Commission ordered that:
    1. Staff’s application to proceed by way of written hearing be granted;
    2. Staff’s materials in respect of the written hearing be served and filed no later than July 31, 2015;
    3. the Respondents’ responding materials, if any, be served and filed no later than August 28, 2015; and
    4. Staff’s reply materials, if any, be served and filed no later than September 11, 2015.
  14. on July 27, 2015, Staff filed written submissions, a hearing brief (Exhibit 5) and a book of authorities;
  15. on August 10, 2015, Staff filed a consent dated July 19, 2015, by which Terry agreed to the issuance of this order (Exhibit 6);
  16. on August 10, 2015, Staff filed a consent dated July 27, 2015, by which Travis agreed to the issuance of this order (Exhibit 7);
  17. on August 14, 2015, Staff filed the Affidavit of Service of Naila Ruba sworn on the same day, indicating steps taken by Staff to serve the Respondents with Staff’s Written Submissions, Brief of Authorities and Hearing Brief (Exhibit 8); and
  18. the Commission is of the opinion that it is in the public interest to make this Order;

IT IS HEREBY ORDERED:

      1. against Travis that:
        1. pursuant to paragraph 2 of subsection 127(1) of the Act, trading in any securities or derivatives by Travis shall cease until March 2, 2020, except that Travis may trade in securities or derivatives through a registrant who has been given a copy of the Settlement Agreement and Undertaking between Travis and the ASC dated March 2, 2015, and a copy of this Order, using one Registered Retirement Savings Plan ("RRSP") account, one Registered Education Savings Plan ("RESP") and one Locked-in Retirement Account ("LIRA"); and
        2. pursuant to paragraph 2.1 of subsection 127(1) of the Act, the acquisition of any securities by Travis shall cease until March 2, 2020, except that:
          1. Travis may acquire securities or derivatives through a registrant who has been given a copy of the Settlement Agreement and Undertaking between Travis and the ASC dated March 2, 2015, and a copy of this Order, using one RRSP account, one RESP and one LIRA; and
          2. Travis may acquire securities in an issuer whose securities are not distributed to the public;
      2. against Terry that:
        1. pursuant to paragraph 2 of subsection 127(1) of the Act, trading in any securities or derivatives by Terry shall cease until March 2, 2018, except that Terry may trade in securities or derivatives through a registrant who has been given a copy of the Settlement Agreement and Undertaking between Terry and the ASC dated March 2, 2015, and a copy of this Order, using one RRSP account; and
        2. pursuant to paragraph 2.1 of subsection 127(1) of the Act, the acquisition of any securities by Terry shall cease until March 2, 2018, except that:
          1. Terry may acquire securities or derivatives through a registrant who has been given a copy of the Settlement Agreement and Undertaking between Terry and the ASC dated March 2, 2015, and a copy of this Order, using one RRSP account; and 
          2. Terry may acquire securities in an issuer whose securities are not distributed to the public;
      3. against Bryant that:
        1. pursuant to paragraph 2 of subsection 127(1) of the Act, trading in any securities or derivatives by Bryant shall cease until March 2, 2018, except that Bryant may trade in securities or derivatives through a registrant who has been given a copy of the Settlement Agreement and Undertaking between Bryant and the ASC dated March 2, 2015, and a copy of this Order, using one RESP account for each of his children and one RRSP account; and
        2. pursuant to paragraph 2.1 of subsection 127(1) of the Act, the acquisition of any securities by Bryant shall cease until March 2, 2018, except that:
          1. Bryant may acquire securities or derivatives through a registrant who has been given a copy of the Settlement Agreement and Undertaking between Bryant and the ASC dated March 2, 2015, and a copy of this Order, using one RESP account for each of his children and one RRSP account; and
          2. Bryant may acquire securities in an issuer whose securities are not distributed to the public;

         

DATED at Toronto this 15th day of September, 2015.

 



" Timothy Moseley"
Timothy Moseley