Orders and Exemptions

Decision Information

Decision Content

 

 

THE SECURITIES ACT

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Order No.  6428

 

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Sections 148 and 19(5)

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November 30, 2011

 

 

DAVID EDWARD HARRIS

 

 

WHEREAS:

 

(A)         On May 11, 2011, the Alberta Securities Commission (“ASC”) issued a decision (“ASC Decision”) against various respondents including David Edward Harris (“HARRIS”);

 

(B)         On October 21, 2011, 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 HARRIS;

 

(C)         This hearing matter came before a panel of the Commission on November 30, 2011;

 

(D)         Upon reviewing the documentary evidence including the Affidavits of Service, upon hearing the submissions of counsel for staff of the Commission, no one appearing for HARRIS, and upon being satisfied as to service upon the respondent HARRIS, 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, HARRIS 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 HARRIS, until and including May 11, 2021, except that this order does not preclude HARRIS 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 or tax-free savings accounts, as defined in the Income Tax Act (Canada), or locked-in retirement accounts for the benefit of HARRIS;

 

(b)          one other account for the benefit of HARRIS; or

 

(c)          both;

 

provided that the securities are listed and posted for trading on the Toronto Stock Exchange, the New York Stock Exchange, or NASDAQ (or their successor exchanges) or are issued by a mutual fund that is a reporting issuer and HARRIS does not own legally or beneficially more than 1% of the outstanding securities of the class or series of the class in question.

 

 

BY ORDER OF THE COMMISSION

 

 

                                                                                                Director, Legal and Enforcement

 

 

 

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