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M ANIT 0
8 A
C URI TI ES
C O MM ISSION
THE SECURITIES ACT
)
Order No. 6277
)
Sections 148, 19(5), and 148.3
)
March 9, 201 1
GERARD BESAW
WHEREAS:
(A)
The
Director,
Enforcement of the Alberta
Securities Commission
("ASC") entered into a Settlement Agreement and Undertaking with Gerard Besaw
("BESAW") on February 26, 201 0 ("Settlement");
(B)
The Manitoba Securities Commission ("Commission") issued a Notice
of Hearing ("Notice") on January 18, 2011 giving notice of its intention to hold a
hearing to consider whether or not to grant orders pursuant to The Securities Act,
R.S .M. 1988, c. S50 as amended ("Act") with respect to BESAW;
(C)
BESAW has confirmed through his legal counsel that he does not
oppose the order sought by staff of the Commission;
(D)
The Commission is of the opinion that it is in the public interest to
make this order.
IT IS ORDERED:
1.
THAT, pursuant to sections 148 and 19(5) of the Act, BESAW cease
trading in securities and refrain from using any exemptions under the Act until
February 26, 2020, except that this order does not prevent BESAW from trading in
securities in a registered account for his benefit through a registrant who has first
been given a copy of this order.
2.
THAT,
pursuant to section 148.3 of the Act,
BESAW 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 an issuer until February 26, 2020 .
BY ORDER OF THE COMMISSION
"CtOr, Legal ana Enforcement
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