Notice from the Office of the Secretary - Ontario Securities Commission

R.S.O. 1990, c. S.5, AS AMENDED

- AND -


TORONTO, Nov. 12, 2015 /CNW/ - The Commission issued an Order in the above named matter which provides that:


Subject to the authority of the Panel presiding over the Merits Hearing, Tang shall be not be permitted to summon as witnesses at the Merits Hearing any of the three Staff members identified as prospective witnesses in Tang's Pre-Hearing Conference Submissions;


Subject to the authority of the Panel presiding over the Merits Hearing, Tang shall be permitted to summon no more than six investor witnesses at the Merits Hearing unless Tang provides the Panel with compelling reasons for doing so;


Subject to the authority of the Panel presiding over the Merits Hearing, the evidence that Tang may lead at the Merits Hearing shall be restricted to matters relevant to the appropriate sanction or sanctions that may be imposed on Tang under subsection 127(10) of the Securities Act;


Tang shall file and serve witness statements for the witnesses he intends to summon by no later than November 20, 2015, setting out their names and disclosing the substance of their anticipated evidence at the hearing on the merits;


Any hearing of the Frozen Funds Application, which would include a determination of the authority of a Panel to grant any relief in respect of such Application, shall be adjourned sine die pending the disposition of the motion brought by Representative Counsel before the Superior Court of Justice and served on Tang on November 6, 2014;


Staff shall advise the Commission, through the office of the Secretary, of the disposition of such motion by Representative Counsel and, if the motion is not disposed of in a timely fashion, Staff shall so alert the office of the Secretary for the purpose of permitting the Frozen Funds Application to be spoken to further;


Staff and Tang shall each deliver a Hearing Brief by no later than December 1, 2015; and


A further pre-hearing conference shall be held on November 25, 2015 at 9:00 a.m.

A copy of the Order dated November 11, 2015 is available at


SOURCE Ontario Securities Commission

For further information: For media inquiries:; For investor inquiries: OSC Contact Centre, 416-593-8314, 1-877-785-1555 (Toll Free)


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890