| THE SECURITIES ACT | ) |
Order No. 5816 |
) |
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| Section 148 and148.3 | ) |
December 10, 2008 |
BETTY LEUNG
WHEREAS:
(A) On June 23, 2008, the Ontario Securities Commission (“OSC”) entered into a settlement (“Settlement”) with Betty Leung (“LEUNG”) resulting in an Order of the OSC dated June 25, 2008 (“OSC Order”);
(B) As part of the Settlement, LEUNG agreed with the facts and conclusion contained within Parts III and IV of the Settlement for the purposes of any administrative proceeding commenced by another Canadian securities commission;
(C) On October 6, 2008, The Manitoba Securities Commission issued a Notice of Hearing (“Notice”) giving notice of its intention to hold a hearing pursuant to section 148.4 of The Securities Act, R.S.M. 1988, c. S50 as amended (“Act”) to consider whether or not it was in the public interest to grant orders with respect to LEUNG;
(D) LEUNG has consented to the issuance of this Order and has waived her right to a full hearing;
(E) 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 of the Act, LEUNG cease trading in securities permanently, except that LEUNG is permitted to trade only in mutual fund securities in one account on her own behalf, one account on behalf of her registered retirement savings plan, and one account on behalf of her locked-in pension plan, through no more than two registered dealers, to whom she must give a copy of this Order at the time she opens or modifies these accounts.
2. THAT, pursuant to section 148.3 of the Act, LEUNG be permanently prohibited from becoming a director or officer of any market participant.
BY ORDER OF THE COMMISSION
Director, Legal and Enforcement