Temporary Order: In the Matter of Goldbridge Financial Inc. et al.

    WHEREAS on October 10, 2008, the Commission issued a temporary order pursuant to section 127(5) of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”) that all trading in securities by Goldbridge Financial Inc. (“Goldbridge”), Wesley Wayne Weber (“Weber”) and Shawn C. Lesperance (“Lesperance”) shall cease, and that the exemptions contained in Ontario securities law do not apply to Goldbridge, Weber and Lesperance (the “Temporary Order”);

    AND WHEREAS the Temporary Order expired on the fifteenth day after its making unless extended by the Commission;

    AND WHEREAS on October 28, 2008, the Commission granted a further order pursuant to clause 2 of subsection 127(1) of the Act (the “October Order”) that all trading in securities by Goldbridge, Weber and Lesperance shall cease, subject to the exception below;

    AND WHEREAS it was further ordered on October 28, 2008, that notwithstanding the foregoing order, Goldbridge may trade solely as principal in one account (“the account”) in accordance with the following conditions:

1. the account shall be at E*TRADE Canada (“E*Trade”);
2. the account shall be in the name of Goldbridge Financial Inc.;
3. the account shall contain only funds belonging to Goldbridge contributed by Weber or Lesperance, and shall not be used directly or indirectly to trade on behalf of any other person or company;
4. Goldbridge shall provide Staff with particulars of the account, including the account number, within 7 days of the date of this Order;
5. Goldbridge shall instruct E*Trade to provide copies of all trade confirmation notices with respect to the account directly to Staff at the same time that such notices are provided to Goldbridge;
6. securities traded in the account shall consist solely of securities listed or quoted on the New York Stock Exchange (“NYSE”) or the National Association of Securities Dealers Automated Quotations (“NASDAQ”); and
7. the Respondents shall immediately take steps to remove from the internet all advertising and postings on behalf of the Respondents offering to provide investment services and lessons in day trading.

    AND WHEREAS during 2008 and 2009, the October Order was extended from time to time, and most recently on July 29, 2009 the October Order was extended by the Commission until the completion of the Hearing on the Merits or until further order of the Commission;

    AND WHEREAS prior to the hearing on the merits, Lesperance settled with the Commission (Re Goldbridge et al. (2009), 32 O.S.C.B. 7387 (oral reasons));

    AND WHEREAS on February 8, 9, and 12, 2010, the hearing on the merits took place in this matter and Staff of the Commission (“Staff”), and Weber appeared at the hearing but Goldbridge did not appear;

    AND WHEREAS the Commission issued its decision on the merits on January 21, 2011 and the Commission is of the opinion that it is in the public interest to extend the October Order until the issuance of a decision and order in a sanctions and costs hearing in this matter;

    IT IS HEREBY ORDERED that the October Order is continued until the issuance of a decision and order in a sanctions and costs hearing in this matter.

    DATED at Toronto this 21^st day of January, 2011.