Order: In the Matter of Terrence Bedford

Order
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IN THE MATTER OF THE
SECURITIES ACT, RSO 1990, c S.5

- AND -

IN THE MATTER OF
TERRENCE BEDFORD

ORDER
(Subsections 127(1) and 127(10) of the Securities Act)


WHEREAS:

  1. on June 30, 2015, Staff (“Staff”) of the Ontario Securities Commission (the “Commission”) filed a Statement of Allegations, in which Staff sought an order against Terrence Bedford (“Bedford”) pursuant to subsection 127(1) of the Securities Act (the “Act”);
  2. on July 2, 2015, the Commission issued a Notice of Hearing in respect of that Statement of Allegations, setting July 22, 2015, as the date of the hearing;
  3. on October 1, 2015, the Commission issued an order continuing the proceeding by way of a written hearing;
  4. Bedford was convicted of an offence related to securities;
  5. the Commission is of the opinion that it is in the public interest to make this order;

IT IS HEREBY ORDERED against Bedford that:

  1. pursuant to paragraphs 2 and 2.1 of subsection 127(1) of the Act, Bedford is prohibited from trading or acquiring any securities or derivatives for ten years, except that during that period he may trade or acquire securities or derivatives:
    1. in any account at a registered dealer in his own name and of which he has the sole beneficial interest; or
    2. in registered retirement savings plans, registered education savings plans or tax-free savings accounts (as defined in the Income Tax Act (Canada) in which only he and/or his spouse have a beneficial interest;
  2. pursuant to paragraph 3 of subsection 127(1) of the Act, any exemptions contained in Ontario securities law shall not apply to Bedford for ten years;
  3. pursuant to paragraphs 7, 8, 8.1, 8.2, 8.3 and 8.4 of subsection 127(1) of the Act, Bedford shall resign any positions that he holds as director or officer of any issuer, registrant or investment fund manager, and he shall be prohibited for a period of ten years from holding any such position, except that he may be a director or officer of any issuer:
    1. of which the shareholders are limited to Bedford, his spouse, and any of their children; and
    2. that does not engage in the business of trading in securities; and
  4. pursuant to paragraph 8.5 of subsection 127(1) of the Act, Bedford is prohibited permanently from becoming or acting as a registrant, as an investment fund manager or as a promoter.

DATED at Toronto this 5th day of May, 2016

 



"Timothy Moseley” "
Timothy Moseley”