The Ontario Securities Commission (OSC) considered an application by Trevor Rosborough to vary the terms of a previous order related to a settlement agreement. The application was agreed upon by both Rosborough and the OSC staff. The OSC decided that, under section 144(1) of the Securities Act, RSO 1990, c S.5, Rosborough is allowed to transfer securities from his TD Direct Investing Trading account to his wife’s account within 30 days from the date of the order. This decision was made following the procedures outlined in section 5.1 of the Statutory Powers Procedure Act and Rule 23 of the OSC’s Rules of Procedure. Rosborough provided an undertaking that the transferred securities would be solely under his wife’s control and that he would not engage in trading or related activities with those securities. The specific securities and quantities to be transferred were listed in an attached schedule.
