Becksley Capital Inc. and Fabrizio Lucchese

IN THE MATTER OF BECKSLEY CAPITAL INC. AND FABRIZIO LUCCHESE

DECISION OF THE DIRECTOR (Addendum to Decision of November 20, 2020)

1. On November 5, 2020, staff (Staff) of the Ontario Securities Commission (the Commission) recommended that the registration of Becksley Capital Inc. (Becksley), an exempt market dealer, be suspended, and that the registration of Fabrizio Lucchese (Lucchese), the firm's ultimate designated person, also be suspended. Staff's recommendation was based on its determination that Becksley and Lucchese (collectively, the Registrants) had failed to comply with Ontario securities law, they lacked the requisite integrity for registration, and their registration would be objectionable.

2. A material fact in Staff's determination that the Registrants lacked the requisite integrity for registration was Lucchese's repeated failure to respond to communications from Staff regarding Becksley's compliance with Ontario securities law.

3. Neither Becksley nor Lucchese exercised their right to be heard under s. 31 of the Act regarding Staff's recommendation that their registration be suspended.

4. On November 20, 2020, in my capacity as Director under the Act, I accepted Staff's recommendation and suspended the Registrants on the grounds that they had failed to comply with Ontario securities law, lacked the requisite integrity for registration, and that their registration would be objectionable, and I issued a written decision to that effect (the November Decision).

5. On December 30, 2020, pursuant to s. 8 of the Act, the Registrants requested a hearing and review of my decision to suspend their registration (the Hearing and Review), which is currently pending before the Commission.

6. Subsequent to the commencement of the Hearing and Review, Lucchese:

(a) provided a written explanation and apology for his repeated failure to respond to Staff's communications to him, in which he took full responsibility for that failure (the Statement) and cited significant personal difficulties he was experiencing at the time; and

(b) paid an investor an amount in settlement of a complaint that they had brought to the Ombudsman for Banking Services and Investments (the Settlement).

7. The Registrants admit their failure to comply with Ontario securities law as described in the November Decision, and do not contest Staff's recommendation that their registration be suspended. However, the Registrants request that I amend the November Decision to remove my finding that they lack the requisite integrity for registration, in which case they will withdraw their request for a Hearing and Review. Staff recommends that I agree to the Registrants' request.

8. On the basis of the Statement and the Settlement, I am satisfied that it would be appropriate to remove from the November Decision my finding that the Registrants lack the requisite integrity for registration. All other aspects of the November Decision remain in full force and effect.

September 7, 2021