Order: In the Matter of Eda Marie Agueci et al. - Ian Telfer

Order
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IN THE MATTER OF THE SECURITIES ACT,
RSO 1990, c S.5, AS AMENDED

- AND -

IN THE MATTER OF EDA MARIE AGUECI, DENNIS WING, SANTO IACONO, JOSEPHINE RAPONI, KIMBERLEY STEPHANY, HENRY FIORILLO, GIUSEPPE (JOSEPH) FIORINI, JOHN SERPA, IAN TELFER, JACOB GORNITZKI and POLLEN SERVICES LIMITED

- AND -

IN THE MATTER OF A SETTLEMENT AGREEMENT BETWEEN
STAFF OF THE ONTARIO SECURITIES COMMISSION AND IAN TELFER

ORDER
(Sections 127 and 127.1)



WHEREAS on February 7, 2012, Staff of the Ontario Securities Commission (“Staff” and the “Commission”) issued a Notice of Hearing (the “Notice of Hearing”) pursuant to sections 127 and 127.1 of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”) in respect of Mr. Ian Telfer (the “Respondent”) in regards to conduct that occurred between January 2008 and March 2011 (the “Material Time”);

AND WHEREAS Telfer and Staff entered into a settlement agreement (the “Settlement Agreement”) in which they agreed to a settlement of the proceeding commenced by the Notice of Hearing, subject to the approval of the Commission;

AND WHEREAS Telfer has undertaken not to:

a. seek or accept indemnification or reimbursement from any person, company, or other legal entity in respect of the costs payable in this Order; and

b. directly or indirectly, trade, or arrange for trading by others, in securities of issuers for which he is a promoter, as defined in subsection 1(1) of the Act, for a period of one year from the date of this Order. For greater clarity, the undertaking does not prevent Telfer from acquiring securities of issuers for which he is a promoter.

AND UPON reviewing the Settlement Agreement and the Notice of Hearing, and upon hearing submissions from counsel for Telfer and from counsel for Staff;

AND WHEREAS the Commission is of the opinion that it is in the public interest to make this Order;

IT IS ORDERED THAT:

1. the Settlement Agreement is hereby approved;

2. pursuant to paragraph 6 of subsection 127(1) of the Act, Telfer is hereby reprimanded; and

3. pursuant to subsection 127.1(1) of the Act, Telfer shall within thirty days of this Settlement Agreement being approved pay $200,000 towards the costs of Staff’s investigation.

DATED at Toronto this 20th day of September, 2013.

“Christopher Portner”