Order: In the Matter of Sextant Capital Management Inc. et al.
IN THE MATTER OF THE SECURITIES ACT
R.S.O. 1990, c. S.5 AS AMENDED
- AND -
IN THE MATTER OF
SEXTANT CAPITAL MANAGEMENT INC.,
SEXTANT CAPITAL GP INC., OTTO SPORK, KONSTANTINOS
EKONOMIDIS, ROBERT LEVACK AND NATALIE SPORK
WHEREAS on May 12, 2010, the Ontario Securities Commission (the “Commission”) issued a Notice of Hearing pursuant to section 127 of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”) in relation to Robert Levack (“Levack”);
AND WHEREAS Levack entered into a settlement agreement with Staff of the Commission (“Staff”) dated May 27, 2010 (the “Settlement Agreement”), a copy of which is attached as Schedule “A” to this Order, in which he agreed to a settlement of the proceeding commenced by the Notice of Hearing dated May 28, 2010, subject to the approval of the Commission;
AND UPON reviewing the Settlement Agreement, and upon hearing submissions from counsel for Staff and Levack;
AND WHEREAS the Commission is of the opinion that it is in the public interest to make this Order;
IT IS ORDERED THAT:
- The settlement agreement is approved.
- The registration granted to the Respondent under Ontario securities law be terminated.
- The Respondent resign one or more positions that the Respondent holds as a director or officer of a registrant, issuer, or investment fund manager.
- The Respondent is prohibited from becoming or acting as a director or officer of any issuer, registrant, or investment fund manager for a period of 10 years.
- The Respondent is prohibited from becoming or acting as a registrant, as an investment fund manager or as a promoter for a period of 10 years.
- The Respondent pay an administrative penalty of $15,000, to be allocated under s. 3.4(2)(b) of the Act to or for the benefit of third parties.
- The Respondent will cooperate fully with any ongoing proceedings relating to his employment at SCMI, including testifying.
" David L. Knight "
" Margot C. Howard "