Decision in brief: Stinson, Enforcement Proceeding, Public Settlement Hearing, March 23, 2023
In this enforcement proceeding, OSC staff says that Stephen Kelley (among others) violated Ontario securities law by: (i) trading securities without being registered, (ii) making misleading statements, and (iii) violating an earlier order that restricted his trading in securities.
Kelley and OSC staff reached an agreement to settle the proceeding against him. The Tribunal approved the settlement. Under the agreement, Kelley will pay an administrative penalty of $15,000. His participation in the capital markets is restricted, and he must cooperate with OSC staff in the ongoing proceeding against the other respondents.