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THE SECURITIES ACT |
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Order No. 7305 |
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Sections 148, 19(5), and 148.3 |
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April 13, 2016 |
RENE JOSEPH BRANCONNIER
AND CHAD DELBERT BURBACK
WHEREAS:
(A) On February 2, 2016, the Alberta Securities Commission (“ASC”) issued a Decision against Rene Joseph Branconnier and Chad Delbert Burback (“ASC Decision”);
(B) On February 12, 2016, The Manitoba Securities Commission (“Commission”) issued a Notice of Hearing (“Notice”) giving notice of its intention to hold a hearing to consider whether or not it was in the public interest to grant orders pursuant to The Securities Act, R.S.M. 1988 c. S50 as amended (“Act”) with respect to Rene Joseph Branconnier (“BRANCONNIER”) and/or Chad Delbert Burback (“BURBACK”);
(C) On April 13, 2016, this hearing matter came before a panel of the Commission;
(D) Upon reviewing the documentary evidence and hearing the submissions of counsel for staff of the Commission, no one appearing for the respondents, and upon reviewing the Affidavits of Service, filed, and being satisfied as to service upon the respondents, the Commission is of the opinion that it is in the public interest to make this order.
IT IS ORDERED:
1. THAT, pursuant to section 148 and subsection 19(5) of the Act, BRANCONNIER cease trading in securities and subsection 19(1) of the Act, with respect to such of the trades referred to in that subsection, and subsection 19(2) of the Act, with respect to such of the securities referred to in that subsection, do not apply to BRANCONNIER, until the later of February 2, 2036 and the date upon which the Director receives confirmation that all monetary orders for which BRANCONNIER is responsible pursuant to the ASC Decision have been paid in full to the ASC, except that he is not precluded from trading in securities through a registrant, who has first been given a copy of this order, in:
(a) registered retirement savings plans, registered retirement income funds, registered education savings plans or tax-free savings accounts, as defined in the Income Tax Act (Canada), or locked-in retirement accounts for the benefit of one or more of BRANCONNIER, his spouse and his dependent children;
(b) one other account for BRANCONNIER’s benefit; or
(c) both.
2. THAT, pursuant to section 148.3 of the Act, BRANCONNIER resign all positions he holds as a director or officer of any issuer and be prohibited from becoming or acting as a director or officer or both of any issuer until the later of February 2, 2036 and the date upon which the Director receives confirmation that all monetary orders for which BRANCONNIER is responsible pursuant to the ASC Decision have been paid in full to the ASC.
3. THAT, pursuant to section 148 and subsection 19(5) of the Act, BURBACK cease trading in securities and subsection 19(1) of the Act, with respect to such of the trades referred to in that subsection, and subsection 19(2) of the Act, with respect to such of the securities referred to in that subsection, do not apply to BURBACK, until the later of February 2, 2028 and the date upon which the Director receives confirmation that all monetary orders for which BURBACK is responsible pursuant to the ASC Decision have been paid in full to the ASC, except that he is not precluded from trading in securities through a registrant, who has first been given a copy of this order, in:
(a) registered retirement savings plans, registered retirement income funds, registered education savings plans or tax-free savings accounts, as defined in the Income Tax Act (Canada), or locked-in retirement accounts for the benefit of one or more of BURBACK, his spouse and his dependent children;
(b) one other account for BURBACK’s benefit; or
(c) both.
4. THAT, pursuant to section 148.3 of the Act, BURBACK resign all positions he holds as a director or officer of any issuer and be prohibited from becoming or acting as a director or officer or both of any issuer until the later of February 2, 2028 and the date upon which the Director receives confirmation that all monetary orders for which BURBACK is responsible pursuant to the ASC Decision have been paid in full to the ASC.
BY ORDER OF THE COMMISSION
Director