Reasons and Decision: In the Matter of Trilogy Mortgage Group Inc. and Trilogy Equities Group Limited Partnership

IN THE MATTER OF
TRILOGY MORTGAGE GROUP INC. and
TRILOGY EQUITIES GROUP LIMITED PARTNERSHIP

REASONS AND DECISION
(Subsection 127(8) of the Securities Act, RSO 1990, c S.5)

REASONS AND DECISION

1. On April 16, 2018, the Ontario Securities Commission issued a temporary order against the respondents Trilogy Mortgage Group Inc. (Trilogy Inc.) and Trilogy Equities Group Limited Partnership (Trilogy LP).¹ That order provided that all trading in securities of or by the respondents would cease. The Commission also ordered that exemptions available under Ontario securities law not be available to the respondents.
    
2. The Commission extended that temporary order a number of times. The most recent extension was on April 24, 2019, when the Commission extended² the order until the conclusion of the hearing on the merits in a related proceeding in which Trilogy Inc. is a respondent. Trilogy LP is not a respondent in that proceeding, and it has since become evident that Trilogy LP has never existed, even though it is named as a respondent in this proceeding.
    
3. In September 2020, while the merits hearing was underway in the related proceeding, Staff asked in this proceeding that the temporary order be extended against Trilogy Inc. (but not against Trilogy LP) until the related proceeding concludes, should the panel in that proceeding determine that a sanctions and costs hearing will follow the merits hearing.
    
4. In reasons and a decision³ issued simultaneously with this decision, a majority of the panel in the related proceeding found that all respondents contravened Ontario securities law. The panel concluded that Trilogy Inc. engaged in the business of trading securities without being registered to do so, contrary to s. 25(1) of the Securities Act.⁴ A sanctions and costs hearing will therefore be required in that proceeding.
    
5. For these reasons, it is in the public interest that the temporary order against Trilogy be extended until the related proceeding concludes. I will issue an order to that effect.

Dated at Toronto this 25th day of April, 2022.

“Timothy Moseley”
Timothy Moseley