Order: In the Matter of Buckingham Securities Corporation

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

AND

IN THE MATTER OF BUCKINGHAM SECURITIES CORPORATION

ORDER
(Sections 127 and 127.1)

WHEREAS on the 6 th day of July, 2001, the Ontario Securities Commission (the “Commission”) ordered, among other things, pursuant to clause 1 of subsection 127(1) of the Securities Act, R.S.O. 1990, c.S.5, as amended (the “Act”), that the registration of Buckingham Securities Corporation (“Buckingham”) be suspended and that trading in any securities by Buckingham, Lloyd Bruce (“Bruce”) and David Bromberg (“Bromberg”) cease for a period of fifteen days from the date of the order (the “Temporary Order”);

AND WHEREAS on the 20 th day of July, 2001 the Commission ordered as described above, pursuant to subsection 127(7) of the Act that the Temporary Order, among other things, be extended against Buckingham, Bruce and Bromberg until the hearing is concluded and that the hearing be adjourned sine die;

AND WHEREAS BDO Dunwoody Limited was appointed Receiver and Manager (the “Receiver”) of the assets and undertaking of Buckingham by Order of the Honourable Madame Justice Swinton dated July 26, 2001 (the “Court Order”);

AND WHEREAS on the 30 th day of March 2004, the Commission ordered pursuant to section 144(1) of the Act that the Temporary Order made by the Commission on July 6, 2001, as varied and extended by Order dated July 20, 2001, cease to apply only as against certain brokerage firms and the Receiver to the extent necessary to permit trading to be conducted by, on behalf of or with the consent of the Receiver, in any securities held in an account or accounts in the name of Buckingham;

AND WHEREAS on April 15, 2004, the Commission issued a Notice of Hearing (the “Notice of Hearing”) pursuant to sections 127 and 127.1 of the Act in respect of Buckingham and other respondents;

AND WHEREAS Buckingham entered into a settlement agreement dated June 1, 2005, in which the respondent Buckingham agreed to a proposed settlement of the proceeding commenced by the Notice of Hearing, subject to the approval of the Commission; and whereas, pursuant to the Court Order referred to herein, the Receiver is authorized to enter into any settlement of any proceeding, including administrative hearings;

AND UPON reviewing the Settlement Agreement and the Statement of Allegations of Staff of the Commission, and upon hearing submissions from the respondent 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 HEREBY ORDERED THAT:

1. the Settlement Agreement dated June 2, 2005, attached to this order as Schedule “1”, is hereby approved; and

2. pursuant to clause 1 of subsection 127(1) of the Act, the registration of Buckingham is terminated.

DATED at Toronto this 7 th day of June, 2005