Order: In the Matter of Ernst & Young LLP

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

- AND -

IN THE MATTER OF
ERNST & YOUNG LLP

ORDER

    WHEREAS on December 3, 2012 the Ontario Securities Commission (the “Commission”) issued a Notice of Hearing in relation to a Statement of Allegations issued pursuant to section 127 of the Securities Act, R.S.O. c. S.5, as amended, with respect to Ernst & Young LLP (the “Respondent”);

    AND WHEREAS the Notice of Hearing stated that an initial hearing before the Commission would be held on January 7, 2013;

    AND WHEREAS the Commission convened a hearing on January 7, 2013 and the matter was adjourned to a confidential pre-hearing conference to be held on March 4, 2013;

    AND WHEREAS a confidential pre-hearing conference was held on March 4, 2013 and the matter was adjourned to a further confidential pre-hearing conference to be held on June 24, 2013;

    AND WHEREAS a confidential pre-hearing conference was held on June 24, 2013 and the matter was adjourned to a further confidential pre-hearing conference to be held on September 6, 2013;

    AND WHEREAS on September 6, 2013, the Commission ordered that the Merits Hearing shall commence on November 11, 2014 and that Staff’s case shall be presented on November 11-14, 17, 19-21, 25-28, December 1, 3-5, 9-12, 15 and 17-19, or on such other dates as may be ordered by the Commission and that the Respondent’s case shall be presented on January 14-16, 20-23, 26, 28-30, February 3-6, 9, 11-13, 17-20, 23, 25-27, and March 3-6, or on such other dates as may be ordered by the Commission, and that a further confidential pre-hearing be held on October 30, 2013 at 10:00 am.;

    AND WHEREAS a confidential pre-hearing conference was held on October 30, 2013 and both parties made submissions and requested that a further confidential pre-hearing conference be scheduled;

    AND WHEREAS on October 30, 2013 the Commission ordered, among other things, that the Respondent’s proposed disclosure motion relating to matters identified to date proceed on December 19, 2013 at 10:00 a.m.;

    AND WHEREAS the Respondent has advised Staff and the Commission that it does not intend to proceed with its proposed disclosure motion at this time;

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

    IT IS HEREBY ORDERED THAT:

1. The Respondent’s proposed disclosure motion will not proceed on December 19, 2013, without prejudice to the Respondent’s right to bring such further motion as may be necessary at a later date.

DATED at Toronto this 17^th day of December, 2013.