| THE SECURITIES ACT | ) |
Order No. 5647 |
) |
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| Section 20(1) | ) |
March 19, 2008 |
GLOBAL MAXFIN INVESTMENTS INC. and BRENT MOOR
WHEREAS:
(A) Global Maxfin Investments Inc. (“Global”) and Brent Moor (“Moor”) have applied to The Manitoba Securities Commission (the “Commission”) for an order pursuant to Section 20(1) of the Securities Act (the “Act”), for an extension of the previous Order granted by the Commission (Order No. 5471 dated August 30, 2007) which granted Global and Moor an exemption from the registration and prospectus requirements contained in sections 6 and 37 of the Act;
(B) Global and Moor have represented to the Commission that:
1. Global has its head office in Ontario and is registered in a category equivalent to a mutual fund dealer under the Act in the provinces of Ontario, British Columbia, Nova Scotia, Newfoundland and Labrador, Quebec, New Brunswick and Saskatchewan.
2. Global has applied for registration in Manitoba under the Act in the category of mutual fund dealer.
3. Moor is a resident of Ontario.
4. Moor has been registered as a salesperson of Global in Ontario since February 2007. Prior to his registration with Global, Moor was registered with another mutual fund dealer.
5. At the time of transferring registration to Global, Global agreed with Moor to obtain registration in Manitoba. This registration was primarily intended to permit Moor to continue to serve five clients (the “Manitoba Clients”) who are resident in Manitoba.
6. Moor has acted as a salesperson for the Manitoba Clients for a substantial period of time.
7. The Manitoba Clients are presently being serviced by Moor pursuant to the registration and prospectus exemption granted in Commission Order 5471 dated August 30, 2007. The Manitoba clients want to continue their dealings with Moor pending the registration of Global and Moor in Manitoba.
8. There have been no complaints received by the Commission against Moor with respect to his servicing of the Manitoba clients since the issuing of the previous Order by the Commission.
(C) The Commission is of the opinion that it would not be prejudicial to the public interest to grant the order requested.
IT IS ORDERED:
1. THAT, pursuant to Section 20(1) of the Act, trades in securities by Global and Moor to the Manitoba Clients be exempt from the registration and prospectus requirements of the Act, subject to the following terms and conditions:
(a) Global and Moor will conduct trades with each of the Manitoba Clients in a manner that is in compliance with the requirements imposed upon a mutual fund dealer and salesperson of a mutual fund dealer registered under the Act;
(b) Global and Moor will proceed with application for registration under the Act; and
(c) The registration of Global and Moor remains in good standing in Ontario.
2. THAT this order will remain in effect until the earlier of December 31, 2008 or the date Global and Moor become registered as a mutual fund dealer under the Act.
3. THAT, the fee for this order is $650.00.
BY ORDER OF THE COMMISSION
Director – Legal