Order: In the Matter of Daniel Sheehan

Order
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IN THE MATTER OF
DANIEL SHEEHAN

Wendy Berman, Vice-Chair and Chair of the Panel

File No. 2020-38

October 7, 2021

ORDER

(Sections 127 and 127.1 of the Securities Act, RSO 1990, c S.5)

WHEREAS on October 7, 2021, the Ontario Securities Commission (the Commission) held a hearing by videoconference to consider the request made jointly by Daniel Sheehan (Sheehan) and Staff of the Commission (Staff) for approval of a settlement agreement dated October 4, 2021 (the Settlement Agreement);

ON READING the Joint Application for Settlement Hearing, including the Statement of Allegations dated November 3, 2020 and the Settlement Agreement, and the written submissions of Staff, and on hearing the submissions of Staff and the representative for Sheehan, and on considering Sheehan having made payment of each of $1,600,000 and $100,000 to the Commission in accordance with the terms of the Settlement Agreement and on considering the undertaking of Sheehan dated August 27, 2021 and attached as Schedule “A” to this Order;

IT IS ORDERED, with reasons to follow, that:

  1. the Settlement Agreement is approved;
  2. The voluntary payment of $1,600,000 made by Sheehan to the Commission is designated for allocation or use by the Commission in accordance with subsections 3.4(2)(b)(i) or (ii) of the Act;
  3. Sheehan shall pay costs of the Commissions investigation in the amount of $100,000, pursuant to section 127.1 of the Act.

 

“Wendy Berman”
Wendy Berman

 

 

SCHEDULE “A”

IN THE MATTER OF
DANIEL SHEEHAN

UNDERTAKING TO THE ONTARIO SECURITIES COMMISSION

  1. This Undertaking is given in connection with the settlement agreement dated October 4, 2021 (the Settlement Agreement) between Daniel Sheehan (Sheehan) and staff (Staff) of the Ontario Securities Commission (the Commission).  All terms shall have the same meanings in this Undertaking as in the Settlement Agreement.
  2. Sheehan undertakes to the Commission to:
    1. not apply for registration for a period of one year following the date of the Order approving the Settlement Agreement.

 

Dated at Mississauga, Ontario this 27th day of August, 2021.

“Daniel Sheehan”
Daniel Sheehan