Thatcher, Leslie - Director's Decision

IN THE MATTER OF THE SECURITIES ACT

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

AND

IN THE MATTER OF THE APPLICATION FOR

REGISTRATION OF

LESLIE BRENT THATCHER

HEARING BEFORE THE DIRECTOR

PURSUANT TO SUBSECTION 26(3) OF THE SECURITIES ACT

HELD ON: OCTOBER 16, 2000

HELD AT: Ontario Securities Commission

20 Queen Street West

17^th Floor

Toronto, Ontario

HELD BEFORE: PEGGY DOWDALL-LOGIE

Manager, Registrant Legal Services

Capital Markets

APPEARANCES:

KATHRYN J. DANIELS For the Staff of the Commission

LESLIE BRENT THATCHER For the Applicant

DIRECTOR'S DECISION

In response to Mr. Thatcher's application (OSC Registration File Number 599610) under the Securities Act (Ontario)(the "Act") for registration as a salesperson to act on behalf of Scotia Discount Brokerage Inc. ("Scotia DiscountBrokerage"), staff of the Ontario Securities Commission (the "Commission") advised Mr. Thatcher, in their letterdated August 22, 2000 that staff were recommending that Mr. Thatcher's application for registration be denied onthe grounds that he was not suitable for registration.

Scotia Discount Brokerage is registered under the Act as a "dealer" in the category of "investment dealer".

In staff's letter, Mr. Thatcher was advised that, pursuant to subsection 26(3) of the Act, before a decision of theDirector would be made in respect of his application for registration, he would have a right to be heard. Mr. Thatcherrequested that right and a hearing was held before me on October 16, 2000, where I acted as Director pursuant tothe current Determination by the Executive Director of positions within the Commission that are designated as"Director" for the purposes of the Act.

At the hearing, I heard testimony from Mr. Thatcher and received submissions from Mr. Thatcher and from counselfor staff of the Commission.

On the basis of the testimony, and after having considered the submissions, as well as reviewing the transcript ofthe hearing, it appears to me that the applicant, Mr. Leslie Brent Thatcher, at this time, is not suitable for registrationas a salesperson to act on behalf of Scotia Discount Brokerage.

I therefore refuse the application for registration. My written reasons for this decision will follow.

"January 12, 2001"

"Peggy Dowdall-Logie"