Order: In the Matter of Frank Mersch and Peter Cunti

WHEREAS on May 7, 1998, the Ontario Securities Commission (the "Commission") issued a notice of hearing pursuant to section 127(1) of the Securities Act,R.S.O. 1990, c. S.5, as amended (the "Act") in respect of Frank Mersch ("Mersch") and Peter Cunti;

AND WHEREAS Mersch and staff of the Commission entered into a settlement agreement dated June 10, 1998 (the "Settlement Agreement") in which theyagreed to a proposed settlement of the proceeding respecting Mersch, subject to the approval of the Commission;

AND WHEREAS Mersch has agreed that he shall not reapply for registration for a period of six months from the date of this order;

AND UPON reviewing the Settlement Agreement and the statement of allegations of staff of the Commission, and upon hearing submissions from counsel forMersch and from staff of the Commission;

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 dated June 10, 1998, attached to this order, is hereby approved; and

(2) pursuant to clause 1 of subsection 127(1) of the Act, Mersch shall not reapply for registration prior to December 11, 1998.

June 11th, 1998.

"J. F. Howard"

"R. Stephen Paddon"