Order: In the Matter of Fred Louis Sebastian
IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5, AS AMENDED
- and -
IN THE MATTER OF
FRED LOUIS SEBASTIAN
ORDER
(Subsections 127(1) and (10) of the Securities Act)
WHEREAS:
- on November 17, 2015, the Ontario Securities Commission (the “Commission”) issued a Notice of Hearing pursuant to subsections 127(1) and 127(10) of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Securities Act”) in respect of Fred Louis Sebastian (“Mr. Sebastian”);
- on November 16, 2015, Staff of the Commission (“Staff”) filed a Statement of Allegations in respect of the same matter;
- on December 16, 2015, Staff appeared before the Commission and brought an application to convert the matter to a written hearing, in accordance with Rule 11.5 of the Commission’s Rules of Procedure (2014), 37 OSCB 4168, and subsection 5.1(1) of the Statutory Power Procedures Act, R.S.O. 1990, c. S.22, as amended;
- on December 16, 2015, the Commission granted Staff’s application to proceed by written hearing and set down a schedule for the submission of materials by the parties;
- Staff filed written submissions, a brief of authorities, a hearing brief and affidavits of service;
- Mr. Sebastian did not file responding written submissions; and
- the Commission is of the opinion that it is in the public interest to make this order;
IT IS HEREBY ORDERED THAT:
- Mr. Sebastian permanently cease trading in securities and derivatives, pursuant to subsection 127(1), paragraph 2 of the Securities Act;
- Mr. Sebastian is permanently prohibited from acquiring any securities pursuant to subsection 127(1), paragraph 2.1 of the Securities Act;
- any exemptions contained in Ontario securities laws shall not apply to Mr. Sebastian permanently pursuant to subsection 127(1), paragraph 3 of the Securities Act;
- Mr. Sebastian shall resign any positions he holds as a director or officer of any issuer, registrant or investment fund manager pursuant to subsection 127(1), paragraphs 7, 8.1 and 8.3 of the Securities Act;
- Mr. Sebastian shall be permanently prohibited from becoming or acting as a director or officer of any issuer, registrant or investment fund manager pursuant to subsection 127(1), paragraphs 8, 8.2 and 8.4 of the Securities Act;
- Mr. Sebastian shall be permanently prohibited from becoming or acting as a registrant, an investment fund manager or a promoter pursuant to subsection 127(1), paragraph 8.5 of the Securities Act.
DATED at Toronto this 5th day of February, 2016.
" Janet Leiper"
Janet Leiper
Janet Leiper