IN THE MATTER OF
THE SECURITIES ACT,
R.S.O. 1990, c. S.5, AS AMENDED
IN THE MATTER OF
SWIFT TRADE INC. AND PETER BECK
(sections 127 and 127.1)
WHEREAS on December 7, 2007, the Commission issued a Notice of Hearing pursuant to section 127 and 127.1 of the Securities Act, R.S.O. 1990, c. S.5 as amended (the "Act"), accompanied by Staff's Statement of Allegations, in relation to the Respondents, Swift Trade Inc. ("Swift Trade") and Peter Beck ("Beck");
AND WHEREAS the Respondents entered into a Settlement Agreement dated July 21, 2009 (the "Settlement Agreement") in which they agreed to a settlement of the proceedings commenced by the Notice of Hearing dated December 7, 2007, subject to the approval of the Commission;
AND UPON reviewing the Settlement Agreement and Staff's Statement of Allegations, and upon hearing submissions from counsel for Staff and counsel for the Respondents;
AND WHEREAS the Respondents acknowledge that the facts set out in Part III of the Settlement Agreement constituted conduct contrary to the public interest under the Act;
AND WHEREAS the Commission is of the opinion that it is in the public interest to make this order;
IT IS ORDERED THAT: the Settlement Agreement between the Respondents and Staff of the Commission is approved;
PURSUANT TO paragraph 127(6) of the Act, the Respondent Beck is reprimanded;
PURSUANT TO paragraph 127(1) of the Act, the terms and conditions imposed by the Decision of the Director of Compliance dated February 5, 2008 on the Respondent Swift Trade's registration, shall be removed immediately; and
PURSUANT TO section 127.1 of the Act, the Respondents shall pay costs in the amount of $20,000 to the Commission.
DATED AT TORONTO the 28th day of July, 2009.
"Lawrence E. Ritchie"