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THE SECURITIES ACT |
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Order No. 6643 |
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Sections 148 and 148.3 |
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February 13, 2013 |
SHANE SUMAN
WHEREAS:
(A) On August 22, 2012, the Ontario Securities Commission (“OSC”) issued an Order against Shane Suman (“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 Shane Suman (“SUMAN”);
(C) On December 19, 2012, this matter appeared before a panel of the Commission and was adjourned to February 13, 2013;
(D) On February 13, 2013, the hearing proceeded before a panel of the Commission;
(E) Upon reviewing the documentary evidence and hearing the submissions of counsel for staff of the Commission, no one appearing for the respondent, 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, SUMAN cease trading in securities permanently.
2. THAT, pursuant to section 148.3 of the Act, SUMAN be prohibited permanently from becoming or acting as a director or officer of any reporting issuer.
BY ORDER OF THE COMMISSION
Director