OSC v. Graziana Casale and Sterling Grace & Co. Ltd (2014)

Judgment entered

✓ Checked against the primary document on October 2, 2026. The library's summary, tags and figures for this record were compared with the regulator's own document by an AI model (Claude) following written instructions, with sampled and disputed records read a second time. No lawyer has reviewed them. A checked record can still contain errors, and checked does not mean endorsed. See how we check records or report a correction.

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In 2014, an Ontario Securities Commission panel dismissed an application by exempt market dealer Sterling Grace & Co. Ltd. and its chief compliance officer Graziana Casale to review a Director's decision suspending their registrations, and permanently suspended the firm and Ms Casale's UDP and CCO registrations. The case concerns registrant compliance, not a boiler room.

The record

What was ordered

Civil penalty

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Disgorgement

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Prejudgment interest

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Total relief

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Alleged gain

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A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

the Ontario Securities Commission announced this matter on January 15, 2014 with a notice of hearing. The respondents named are Graziana Casale and Sterling Grace & Co. Ltd. The Director had suspended Sterling Grace's exempt market dealer registration and Ms Casale's registrations as dealing representative, ultimate designated person and chief compliance officer in November 2013; the applicants asked the Commission to review that decision. The panel's September 3, 2014 reasons found the applicants unsuitable for registration and in breach of Ontario securities law, citing conflicts of interest, failure to report capital deficiencies, misstatements to staff, trading without registration and know-your-client and suitability failures. It dismissed the application, permanently suspended the firm and Ms Casale's UDP and CCO registrations, and suspended her dealing representative registration with no reinstatement application for two years.

The record was tagged as a boiler room on the strength of a passing reference: Ms Casale's own submission noted that other investor alerts on the Commission's site involved boiler rooms and fraud, which she said her situation differed from. No boiler room is alleged against her or the firm, so the record now carries no technique tag.

For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the release.

Timeline

1. 2013-11-20 Other
2. 2013-11-27 Reasons and Decision
3. 2014-01-15 Notice of Hearing
4. 2014-02-20 Reasons and Decision
5. 2014-09-04 Reasons and Decision

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• Tribunal proceeding
• Other
• Reasons and Decision
• Notice of Hearing
• Reasons and Decision
• Reasons and Decision

The linked release is published by the issuing regulator under its own terms. Our summary and narrative above are our own writing.

Record added September 10, 2026. submit a correction.