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THE SECURITIES ACT |
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Order No. 7152 |
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Sections 148, 19(5), and 148.3 |
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July 8, 2015 |
LAWRENCE ZEIBEN
WHEREAS:
(A) On October 21, 2014, the Alberta Securities Commission (“ASC”) issued a Decision against Lawrence Zeiben (“ASC 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 pursuant to section 148.4 of The Securities Act, R.S.M. 1988, c. S50 as amended (“Act”) to consider whether or not it was in the public interest to grant orders with respect to Lawrence Zeiben (“ZEIBEN”);
(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 of the Act, ZEIBEN cease trading in or purchasing securities or exchange contracts and, furthermore, 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 ZEIBEN, permanently, except that these orders do not preclude him from trading in or purchasing securities or exchange contracts through a registrant (who has first been given a copy of this order) in:
(a) registered retirement savings plans, registered retirement income funds or tax-free savings accounts (as defined in the Income Tax Act (Canada)) or locked-in retirement accounts for ZEIBEN’s benefit;
(b) one other account for ZEIBEN’s benefit; or
(c) both, provided that:
(i) the securities are listed and posted for trading on the Toronto Stock Exchange, the New York Stock Exchange or NASDAQ (or their successor exchanges) or are issued by a mutual fund that is a reporting issuer; and
(ii) ZEIBEN does not own legally or beneficially more than 1% of the outstanding securities of the class or series of the class in question.
2. THAT, pursuant to section 148.3 of the Act, ZEIBEN resign all positions he holds as a director or officer of any issuer and be prohibited from becoming or acting as a director or officer or both of any issuer permanently.
BY ORDER OF THE COMMISSION
Director