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THE SECURITIES ACT |
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Order No. 6623 |
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Sections 148, 19(5), and 148.3 |
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December 19, 2012 |
SALIM KANJI
WHEREAS:
(A) On March 26, 2012, the Ontario Securities Commission (“OSC”) issued an Order against Salim Kanji (“OSC Order”);
(B) On November 7, 2012, 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 The Securities Act, R.S.M. 1988, c. S50 as amended (“Act”) with respect to Salim Kanji (“KANJI”);
(C) KANJI has consented to the issuance of this Order and has waived his right to a full hearing;
(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 section 148 of the Act, KANJI cease trading in securities until March 26, 2016, with the exception that KANJI is permitted to trade securities for the account of his registered retirement savings plan (“RRSP”) as defined in the Income Tax Act, R.S.C., 1985, c. 1, as amended, and/or tax-free savings accounts (“TFSA”) and/or for any registered education savings plan (“RESP”) accounts for which he is the or a sponsor.
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 KANJI until March 26, 2016, except to the extent such exemption is necessary for trades undertaken in connection with KANJI’s RRSP and/or TFSA and/or for any RESP accounts for which he is the or a sponsor.
3. THAT, pursuant to section 148.3 of the Act, KANJI 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 any issuer until March 26, 2016.
BY ORDER OF THE COMMISSION
Director – Legal and Enforcement