The Ontario Securities Commission (OSC) said Monday that it is seeking to reciprocate a couple of enforcement orders handed down by the B.C. Securities Commission (BCSC) last year.
The OSC says it will hold a hearing on April 12 to consider imposing trading and registration bans against against Myron Sullivan II, formerly known as Fred Myron George Sullivan; and, trading bans against both Global Response Group (GRG) Corp. and International Marketing of Canada Corp. (IMC), following sanctions handed down against them in December last year by the BCSC.
The BCSC ruled that they engaged in an illegal distribution of securities, that Sullivan made misrepresentations, and that Sullivan and GRG perpetrated a fraud. Along with various market bans against them, the BCSC ordered that Sullivan disgorge over $1.7 million and pay an administrative penalty of $700,000.
Separately, the OSC also said Monday it will hold a hearing on April 12 to consider reciprocal market bans against Michael Robert Shantz, and Canada Pacific Consulting Inc.; which the BCSC also sanctioned last year, after finding that Canada Pacific engaged in unregistered trading, Shantz, as sole director and officer of Canada Pacific, was deemed to have engaged in unregistered trading, and that they perpetrated a fraud on investors.
The BCSC panel handed down trading bans in that case too, along with $1.5 million in disgorgement and an administrative penalty of $630,000.