IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5, AS AMENDED
- and -
IN THE MATTER OF
DAVEED ZARR (formerly known as ASI LALKY)
(Subsection 127(1) of the Securities Act)
- on July 2, 2015, the Commission issued a Notice of Hearing in this matter, in respect of a Statement of Allegations filed by Enforcement staff (“Staff”) of the Ontario Securities Commission (the “Commission”) on June 30, 2015, in which Staff requested that the Commission make an order against Daveed Zarr, formerly known as Asi Lalky, (“Zarr”) pursuant to subsection 127(1) of the Ontario Securities Act (the “Act”);
- Staff based its request on:
- an August 25, 2014, decision of the British Columbia Securities Commission (the “BCSC”), in which the BCSC found that Zarr had engaged in an illegal distribution, had traded without proper registration, and had made misrepresentations to potential investors, all contrary to British Columbia’s Securities Act, RSBC 1996, c 418;
- a resulting order of the BCSC, issued on October 31, 2014, imposing various sanctions against Zarr; and
- subsection 127(10) of the Act; and
- the Commission is of the opinion that it is in the public interest to make this order;
IT IS HEREBY ORDERED THAT:
- pursuant to paragraphs 7 and 8.1 of subsection 127(1) of the Act, Zarr shall resign any positions that he holds as director or officer of any issuer or registrant;
- effective until the later of October 31, 2018, and the date upon which Zarr makes the payment required by the BC Order:
- pursuant to paragraphs 2 and 2.1 of subsection 127(1) of the Act, trading in or acquisition of any securities by Zarr shall cease, except that he may trade or acquire securities for his own account through a registrant if, prior to such trade or acquisition, he gives the registrant a copy of the BC Order and a copy of the order resolting from this decision;
- pursuant to paragraph 3 of subsection 127(1) of the Act, none of the exemptions contained in Ontario securities law shall apply to Zarr;
- pursuant to paragraphs 8 and 8.2 of subsection 127(1) of the Act, Zarr is prohibited from becoming or acting as an officer or director of any issuer or registrant; and
- pursuant to paragraph 8.5 of subsection 127(1) of the Act, Zarr is prohibited from becoming or acting as a registrant or promoter.
DATED at Toronto this 8th day of October, 2015.
" Timothy Moseley "