Order: In the Matter of Terrence Bedford

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

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IN THE MATTER OF TERRENCE BEDFORD

ORDER

1. on March 8, 2013, Terrence Bedford (“Bedford” or the “Respondent”) pleaded guilty in the Ontario Court of Justice to one count of engaging or participating in an act, practice or course of conduct relating to securities that he knew or reasonably ought to have known perpetrated a fraud on persons or companies to whom he traded securities, contrary to subsection 126.1(1)(b) of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”), and he thereby did commit an offence contrary to subsection 122(1)(c) of the Act;
2. Bedford’s guilty plea was accepted by the Ontario Court of Justice, and he was convicted and sentenced to two years’ imprisonment;
3. on June 30, 2015, Staff of the Commission (“Staff”) filed a Statement of Allegations in this matter, seeking an inter-jurisdictional enforcement order pursuant to subsection 127(1) of the Act, in reliance upon paragraph 1 of subsection 127(10) of the Act;
4. on July 2, 2015, the Ontario Securities Commission (the “Commission”) issued a Notice of Hearing pursuant to subsections 127(1) and 127(10) of the Act in respect of Bedford;
5. on July 22, 2015, Staff appeared before the Commission and brought an application to continue this proceeding by way of a written hearing, and made submissions;
6. on July 22, 2015, Staff filed an affidavit of service sworn on  July 16, 2015 by Lee Crann, a Law Clerk with the Commission, which documented service on Bedford of the Notice of Hearing, Statement of Allegations, Staff's disclosure materials, and information concerning the Litigation Assistance Program;
7. on July 22, 2015, Bedford appeared before the Commission and advised  that he had not yet retained counsel, and that he wished to seek legal advice regarding Staff’s request to continue the proceeding by way of a written hearing;
8. on July 22, 2015, the Commission ordered that:
   1. Staff’s application to proceed by way of written hearing is denied, without prejudice to Staff’s right to reapply to continue this proceeding by way of a written hearing;
   2. this proceeding is adjourned to an oral hearing to be held on September 9, 2015 at 2:00 p.m. or as soon thereafter as the hearing can be held;
   3. any requests by the Respondent for disclosure of additional documents shall be set out in a Notice of Motion to be served and filed no later than August 27, 2015; and
   4. Staff shall make disclosure of their witness list and summaries and indicate any intent to call an expert witness, and provide the Respondent the name of the expert and state the issue on which the expert will be giving evidence, by September 2, 2015; and

9. on September 1, 2015, newly retained counsel for Bedford advised the Commission that he would not be able to attend the hearing scheduled for September 9, 2015, and requested an adjournment, to which Staff consented;
10. on September 4, 2015, the Commission ordered that:
    1. the hearing date of September 9, 2015 be vacated; and
    2. this proceeding is adjourned to an oral hearing to be held on October 1, 2015 at 2:00 p.m. or as soon thereafter as the hearing can be held;
11. on September 24, 2015, on consent of the parties, the Commission ordered that the hearing scheduled to be held on October 1, 2015 at 2:00 p.m. shall be held at 3:00 p.m. on the same date; and
12. On October 1, 2015, the Commission heard an application by Staff to continue this proceeding by way of  a written hearing, at which  attendance Bedford appeared through counsel and indicated his consent;

IT IS ORDERED THAT:

1. Staff’s application to continue this proceeding by way of written hearing, pursuant to Rule 11.5 of the Ontario Securities Commission Rules of Procedure (2014), 37 O.S.C.B. 4168, and section 5.1, of the Statutory Powers Procedure Act, R.S.O. 1990, c. S.22, is granted;
2. Staff’s materials in respect of the written hearing shall be served and filed no later than October 9, 2015;
3.  Bedford’s responding materials, if any, shall be served and filed no later than November 9, 2015; and
4. Staff’s reply materials, if any, shall be served and filed no later than November 27, 2015.

DATED at Toronto this 1st  day of October, 2015.