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THE SECURITIES ACT |
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Order No. 6656 |
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Sections 148, 19(5) and 148.3 |
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March 6, 2013 |
DAVID WHIDDEN
WHEREAS:
(A) On September 7, 2012, the Ontario Securities Commission (“OSC”) issued an Order against David Whidden (“OSC Order”);
(B) On January 29, 2013, 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 David Whidden (“WHIDDEN”);
(C) WHIDDEN 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, WHIDDEN cease trading in securities until September 7, 2016, with the exception that, once the Director of the Commission has received confirmation that WHIDDEN has fully satisfied paragraph (i) of the OSC Order regarding payment of an administrative penalty to the OSC, WHIDDEN shall be permitted to trade securities for the account of his registered retirement savings plans and his registered pension plan as defined in the Income Tax Act, R.S.C. 1985, c.1, as amended (“Income Tax Act”) solely through a registered dealer or, as appropriate, a registered dealer in a foreign jurisdiction, which dealer must be given a copy of this Order, in (a) any “exchange-traded security” or “foreign exchange-traded security” within the meaning of National Instrument 21-101 provided that he does not own beneficially or exercise control or direction over more than 5 percent of the voting or equity securities of the issuer(s) of any such securities, or (b) any security issued by a mutual fund that is a reporting issuer.
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 WHIDDEN until September 7, 2016, except to the extent such exemption is necessary for trades undertaken in connection with his registered retirement savings plans and his registered pension plan as defined in the Income Tax Act, once the Director of the Commission has received confirmation that WHIDDEN has fully satisfied paragraph (i) of the OSC Order regarding payment of an administrative penalty to the OSC.
3. THAT, pursuant to section 148.3 of the Act, WHIDDEN resign and be prohibited until September 7, 2016 from becoming or acting as a director or officer of an issuer, with the exception that WHIDDEN may continue his activities as a director and officer of Alternative Strategies by DAW Inc. and Profitable Giving Canada as those activities relate to charitable gifting arrangements, excluding any such arrangements involving securities.
BY ORDER OF THE COMMISSION
Director