Order: In the Matter of Nelson Financial Group Ltd. et al.

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

- AND -

IN THE MATTER OF
NELSON FINANCIAL GROUP LTD., NELSON INVESTMENT GROUP LTD.,
MARC D. BOUTET, STEPHANIE LOCKMAN SOBOL,
PAUL MANUEL TORRES and H. W. PETER KNOLL

ORDER


    WHEREAS on May 12, 2010, the Ontario Securities Commission (the “Commission”) issued a Notice of Hearing pursuant to sections 127(1) and 127.1 of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”) in connection with a Statement of Allegations issued by Staff of the Commission (“Staff”) in this matter;

    AND WHEREAS on November 10, 2010, Staff amended the Statement of Allegations;

    AND WHEREAS Marc D. Boutet (“Boutet”) and Nelson Investment Group Ltd. (“Nelson Investment”) entered into a settlement agreement with Staff dated May 12, 2011 (the “Settlement Agreement”), subject to the approval of the Commission;

    AND UPON reviewing the Settlement Agreement, and upon hearing submissions from counsel for Staff and counsel for Boutet and Nelson Investment;

    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 approved;
  2. Pursuant to clause 2 of subsection 127(1) of the Act, trading in any securities by Boutet and Nelson Investment shall cease permanently, with a carve out for trading by Boutet in his personal RRSP account after the payment set out in subparagraph (f) is paid in full;
  3. Pursuant to clause 1 of subsection 127(1) of the Act, the registration granted to Boutet and Nelson Investment under Ontario securities law shall be terminated permanently;
  4. Pursuant to clause 8 of subsection 127(1) of the Act, Boutet shall be prohibited from becoming or acting as a director or an officer of any issuer, for a period of 15 years;
  5. Pursuant to clause 3 of subsection 127(1) of the Act, any exemptions contained in Ontario securities law do not apply to Boutet and Nelson Investment, permanently; and
  6. Pursuant to clauses 9 and 10 of subsection 127(1) of the Act, Boutet and Nelson Investment shall pay the amount of $550,000 to be allocated to or for the benefit of third parties under subsection 3.4(2)(b) of the Act, with payment of $200,000 to be made by certified cheque at the time of the settlement hearing.

 

DATED at Toronto this 16th day of May, 2011.

" Edward P. Kerwin"
Edward P. Kerwin