Order: In the Matter of Darren Spears and May Spears

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

- AND -

IN THE MATTER OF
DARREN SPEARS and MAY SPEARS

ORDER
(Subsections 127(1) and 127(5))

WHEREAS Staff were investigating the possibility of illegal tipping and insider trading in shares of Magna International Inc. by the Respondents;

AND WHEREAS on December 12, 2014, the Commission, pursuant to clause 2 of subsections 127(1) and 127(6) of the Act ordered that all trading in securities of Magna by the Respondents cease for a period of 15 days from the date of that Order (the “Cease Trade Order”);

AND WHEREAS on December 18, 2014 and January 15, 2015, on consent of the parties, the Cease Trade Order was extended, with some modifications, until April 17, 2015;

AND WHEREAS Staff are no longer continuing its investigation of Darren and May Spears for breaches of the Act at this time;

AND WHEREAS Staff request an Order that the Cease Trade Order, as varied, be terminated;

AND WHEREAS the Respondents consent to the requested Order;

IT IS HEREBY ORDERED that the December 18, 2014 Cease Trade Order, as varied,

 

DATED at Toronto this 9 th day of March, 2015.