| THE SECURITIES ACT | ) |
Order No. 5914 |
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| Section 148(1) and 148.3 | ) |
May 13, 2009 |
HENRY JUNG
WHEREAS:
(A) On January 19, 2009, the British Columbia Securities Commission (“BCSC”) issued a decision (“BCSC Decision”) against Henry Jung (“JUNG”);
(B) On March 11, 2009, 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 section 148.4 of The Securities Act, R.S.M. 1988, c. S50 as amended (“Act”) with respect to JUNG;
(C) On May 13, 2009, the hearing as against JUNG proceeded before a panel of the Commission;
(D) Upon reviewing the documentary evidence and Affidavits of Service filed, upon hearing the submissions of counsel for staff of the Commission and of JUNG appearing for himself by teleconference, and upon being satisfied as to service upon the respondent, 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(1) of the Act, JUNG cease trading in securities, except that JUNG may trade for his own account through a registrant, if he first gives the registrant a copy of this order.
2. THAT, pursuant to section 148.3 of the Act, JUNG resign any position he holds as a director or officer of an issuer and be prohibited from becoming or acting as a director or officer of any issuer, except an issuer all the securities of which are owned beneficially by him, his wife, or his children.
3. THAT, this order shall remain in force until the later of January 18, 2024 and the date JUNG pays to the BCSC the administrative penalty pursuant to paragraph 7 of the BCSC Decision.
BY ORDER OF THE COMMISSION
Director, Legal and Enforcement