Order: In the Matter of BDO Canada LLP
IN THE MATTER OF
BDO CANADA LLP
D. Grant Vingoe, Vice Chair and Chair of the Panel
Lawrence P. Haber, Commissioner
Mary Anne De Monte-Whelan, Commissioner
FILE NO.: 2018-59
(Sections 127 and 127.1
of the Securities Act, RSO 1990, c S.5)
WHEREAS on January 24, 2020, the Ontario Securities Commission (the Commission) held a hearing at the offices of the Commission, located at 20 Queen Street West, 17th Floor, Toronto, Ontario, to consider the Joint Request for a Settlement Hearing filed by BDO Canada LLP (the Respondent) and Staff of the Commission for approval of a settlement agreement dated as of January 20, 2020 (the Agreement);
ON READING the Amended Statement of Allegations dated September 16, 2019 and the Agreement and on hearing the submissions of the representatives for the parties, including that the Commission has received $4.0 million in respect of the amounts ordered in paragraphs 2 and 3 below;
IT IS ORDERED THAT:
- the Agreement is approved;
- the Respondent be reprimanded, pursuant to paragraph 6 of subsection 127(1) of the Securities Act, RSO 1990, c S.5 (the Act);
- the Respondent pay an administrative penalty in the amount of $3,500,000, pursuant to paragraph 9 of subsection 127(1) of the Act, which amount be designated for allocation or use by the Commission in accordance with subsection 3.4(2)(b) of the Act; and
- the Respondent pay costs in the amount of $500,000, pursuant to section 127.1 of the Act.
" Lawrence P. Haber "
Lawrence P. Haber
" D. Grant Vingoe "
D. Grant Vingoe
" Mary Anne De Monte-Whelan "
Mary Anne De Monte-Whelan