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THE SECURITIES ACT |
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Order No. 7150 |
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Sections 148 and 148.3 |
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July 8, 2015 |
KEN CHUA
WHEREAS:
(A) On August 19, 2014, the British Columbia Securities Commission (“BCSC”) issued a Decision against Ken Chua (“BCSC Decision”);
(B) On March 12, 2015, The Manitoba Securities Commission (“Commission”) issued a Notice of Hearing (“Notice”) giving notice of its intention to hold a hearing to consider pursuant to section 148.4 of The Securities Act, R.S.M. 1988, c. S50 as amended (“Act”) whether or not it was in the public interest to grant orders pursuant to sections 148 and 148.3 of the Act with respect to Ken Chua (“CHUA”);
(C) On July 8, 2015, this hearing matter came before a panel of the Commission;
(D) 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 148.3 of the Act, CHUA resign any position he holds as a director or officer of an issuer.
2. THAT, pursuant to sections 148 and 148.3 of the Act, until the latest of August 19, 2020 and the date upon which the Director of the Commission has received confirmation that the payments ordered in paragraphs 72(6) and 72(7) of the BCSC Decision have been made to the BCSC, CHUA:
(a) cease trading in or purchasing securities, except that he may trade and purchase securities for his own account through a registrant, if he first gives the registrant a copy of this order;
(b) be prohibited from becoming or acting as a director or officer of any issuer.
BY ORDER OF THE COMMISSION
Director