Proceedings


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

AND

IN THE MATTER OF
VISIONS FINANCIAL GROUP INC.

STATEMENT OF ALLEGATIONS OF STAFF
OF THE ONTARIO SECURITIES COMMISSION

 

1. The respondent Visions Financial Group Inc. ("Visions") is a corporation registeredpursuant to Ontario securities law as a mutual fund dealer and limited marketdealer.

2. Section 139 of the Regulation under the Securities Act provides that every mutualfund dealer shall deliver to the Ontario Securities Commission ("the Commission")within ninety days after the end of its financial year a copy of its financial statementsfor the financial year.

3. Visions did not deliver its financial statements for the year ended December 31,1997, within the time required by section 139 of the Regulation.

4. Visions has failed to deliver to the Commission its financial statements for the yearended December 31, 1998.

5. Such other allegations as Staff may make and the Commission may permit.

DATED at Toronto, this 3rd day of May, 1999.