Order: Valentine (Re)

IN THE MATTER OF
MARK EDWARD VALENTINE

File No. 2022-7

September 30, 2024

ORDER

(Subsection 127(1) and section 127.1 of the Securities Act, RSO 1990, c S.5)

WHEREAS on July 3, 2024, the Capital Markets Tribunal held a hearing by videoconference to consider the sanctions and costs that the Tribunal should impose on Mark Edward Valentine as a result of the findings in the Reasons and Decision on the merits issued on March 20, 2024, where Valentine was found to have breached a 2004 order of the Commission which banned him from acting as a director or officer of an issuer (the D&O Ban) and from trading in securities for 15 years (the Trading Ban);

ON READING the materials filed by the parties, and on hearing the submissions of the representatives for the Ontario Securities Commission and for Valentine;

IT IS ORDERED THAT:

1. pursuant to paragraph 2 of subsection 127(1) of the Securities Act (Act), trading in any securities or derivatives by Valentine shall cease permanently;
2. pursuant to paragraph 2.1 of subsection 127(1) of the Act, the acquisition of any securities by Valentine is prohibited permanently;  
3. pursuant to paragraph 3 of subsection 127(1) of the Act, any exemptions contained in Ontario securities law do not apply to Valentine permanently;
4. pursuant to paragraphs 7, 8.1 and 8.3 of subsection 127(1) of the Act, Valentine shall immediately resign from any positions that he holds as a director or officer of any issuer or registrant, including an investment fund manager;
5. pursuant to paragraphs 8, 8.2 and 8.4 of subsection 127(1) of the Act, Valentine is permanently prohibited from becoming or acting as a director or officer of any issuer or registrant, including an investment fund manager;
6. pursuant to paragraph 8.5 of subsection 127(1) of the Act, Valentine is permanently prohibited from becoming or acting as a registrant, including as an investment fund manager, or as a promoter;
7. pursuant to paragraph 9 of subsection 127(1) of the Act, Valentine shall pay:
   1. an administrative penalty of $500,000 for Valentine’s breach of the D&O Ban; and
   2. an administrative penalty of $500,000 for Valentine’s breaches of the Trading Ban;  
8. pursuant to paragraph 10 of subsection 127(1) of the Act, Valentine shall disgorge to the Commission $3,257,639.75 and US$10,732,503; and
9. pursuant to section 127.1 of the Act, Valentine shall pay to the Commission $300,000 for the costs of the investigation and hearing.