Orders and Exemptions

Decision Information

Decision Content

THE SECURITIES ACT

)

Order No.  6432

 

)

 

Sections 148 and 19(5)    

)

November 30, 2011

 

 

KUSTOM DESIGN FINANCIAL SERVICES INC.,

KUSTOM DESIGN GROUP INC., and HIGHTIDE MANAGEMENT INC.

 

 

WHEREAS:

 

(A)         On August 26, 2010, the Alberta Securities Commission (“ASC”) issued a decision (“ASC Sanctions Decision”) against various respondents including Kustom Design Financial Services Inc. (“KUSTOM FINANCIAL”), Kustom Design Group Inc. (“KUSTOM GROUP”), and Hightide Management Inc. (“HIGHTIDE”);

 

(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 KUSTOM FINANCIAL, KUSTOM GROUP, and/or HIGHTIDE (collectively referred to as the respondents);

 

(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 the respondents, and upon being satisfied as to service upon the respondents, 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, trading in securities of and by KUSTOM FINANCIAL, KUSTOM GROUP, and HIGHTIDE cease permanently 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 KUSTOM FINANCIAL, KUSTOM GROUP, and HIGHTIDE permanently.

 

 

BY ORDER OF THE COMMISSION

 

 

                                                                           Director, Legal and Enforcement

 

 You are being directed to the most recent version of the statute which may not be the version considered at the time of the judgment.