TORONTO, Jan. 31, 2013 /CNW/ - A panel of the Ontario Securities Commission released today its Reasons and Decision on Sanctions and Costs with respect to Paul Donald.
In an August 1, 2012 decision on the merits, the Commission concluded that, although Donald did not breach subsection 76(1) of the Act, his conduct related to the purchase of securities of Certicom, while in a special relationship with Certicom, was contrary to the public interest.
In today's decision, the OSC panel made protective orders prohibiting Donald from becoming or acting as an officer or director of a reporting issuer for five years and requiring Donald to pay $150,000, representing a portion of the cost to the OSC incurred in investigating and litigating the matter. The panel did not order a ban on trading in or acquiring securities.
A copy of the Reasons and Decision on Sanctions and Costs and the Reasons and Decision on the Merits are available on the OSC website at www.osc.gov.on.ca.The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices and to foster fair and efficient capital markets and confidence in capital markets. Investors are urged to check the registration of any person or company offering an investment opportunity and to review the OSC's investor materials available at www.osc.gov.on.ca. SOURCE Ontario Securities Commission