| THE SECURITIES ACT | ) |
Order No. 5807 |
) |
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| Section 148 and 19(5) | ) |
November 26, 2008 |
SANG H. PARK
WHEREAS:
(A) The Director-Enforcement, New Brunswick Securities Commission ("NBSC"), entered into a settlement ("Settlement") with Sang H. Park ("PARK") resulting in an Order of the NBSC dated August 25, 2008 ("NBSC Order");
(B) On September 22, 2008, The Manitoba Securities Commission ("Commission") issued a Notice of Hearing ("Notice") giving notice of its intention to hold a hearing to consider pursuant to section 148.4 of The Securities Act, R.S.M. 1988, c. S50 as amended ("Act") whether or not it was in the public interest to grant orders with respect to PARK;
(C) On November 26, 2008, this matter was heard by a panel of the Commission;
(D) Upon reviewing the documentary evidence and hearing the submissions of counsel for staff of the Commission and upon reviewing the Affidavit of Service, filed, and 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 of the Act, PARK cease trading in securities, other than those beneficially owned directly by him, until August 25, 2018.
2. THAT, pursuant to subsection 19(5) of the Act, 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 PARK until August 25, 2018.
BY ORDER OF THE COMMISSION
Director, Legal and Enforcement