Decisions

Terence Lushington [Reciprocal Order]

BCSECCOM #:
2014 BCSECCOM 12
Document Type:
Reciprocal Order
Published Date:
2014-01-30
Effective Date:
2014-01-16
Details:

2014 BCSECCOM 12

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Reciprocal Order

Terence Lushington

Section 161 of the Securities Act, RSBC 1996, c. 418


      Introduction
¶ 1 This is an order under sections 161(1) and 161(6)(c) and (d) of the Securities Act, RSBC 1996, c. 418.
      Background
¶ 2 Terence Lushington agreed with the Ontario Securities Commission to be subject to sanctions in a settlement agreement the OSC approved on March 29, 2011 in Innovative Gifting Inc. and others (2011), 34 OSCB 3793.
      Order
¶ 3 After providing Lushington an opportunity to be heard, and considering staff’s submission, and considering it to be in the public interest, we order:

      1. under section 161(1)(b) of the Act, that Lushington cease trading in, and is prohibited from purchasing securities until March 29, 2016;

      2. under section 161(1)(c) of the Act, that all of the exemptions set out in the regulations do not apply to Lushington until March 29, 2016;

      3. under section 161(1)(d)(ii) of the Act, that Lushington is prohibited until March 29, 2016, from becoming or acting as a director or officer of any issuer, registrant or investment fund manager; and

      4. under section 161(1)(d)(iii) of the Act, that Lushington is prohibited until March 29, 2016, from becoming or acting as a registrant, investment fund manager or promoter.

¶ 4 January 16, 2014

¶ 5 For the Commission



      Brent W. Aitken
 
Don Rowlatt
      Vice Chair
 
Commissioner