The Ontario Securities Commission has released reasons relating to its May 16 decision to extend a temporary cease trade order against Andrew Lech.

In its reasons, the commission referred to the evidence tendered by Michael Vear, a forensic accountant in the enforcement branch of the Commission.

Based upon this evidence, commissioners Lorne Morphy and Derek Brown, and vice chair Paul Moore, stated that they were “satisfied that satisfactory information had not been provided by Lech to the commission within the 15 day period after the making of the temporary order on May 1, 2003, and that the length of time required to conclude the hearing could be prejudicial to the public interest”.

Copies of the reasons are available on the commission’s website at www.osc.gov.on.ca