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THE SECURITIES ACT |
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Order No. 7202 |
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Sections 148, 19(5), and 148.3 |
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October 14, 2015 |
GROUND WEALTH INC,
DOUGLAS DEBOER AND JOEL WEBSTER
WHEREAS:
(A) On January 6, 2015, the Ontario Securities Commission (“OSC”) issued an order against Ground Wealth Inc., Douglas DeBoer and Joel Webster (“OSC Order”);
(B) On August 27, 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 Ground Wealth Inc. (“GWI”), Douglas DeBoer (“DEBOER”) and/or Joel Webster (“WEBSTER”);
(C) On October 14, 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 respondents, and upon reviewing the Affidavits of Service, filed, and being satisfied as to service upon the respondents, 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, GWI cease trading in securities permanently.
2. THAT, pursuant to section 148 of the Act, DEBOER cease trading in securities until and including January 6, 2020, except that, upon the Director of the Commission receiving confirmation of full payment to the OSC of the administrative penalty and costs orders made against DEBOER as a result of the Settlement Agreement referred to in the OSC Order, DEBOER be permitted to trade securities through a registrant for personal purposes in his own account, provided that he is not engaging in or holding himself out as engaging in the business of trading in securities, and provided DEBOER first notifies the registrant of these conditions by delivering to the registrant a copy of this order.
3. THAT, pursuant to section 148 of the Act, WEBSTER cease trading in securities until and including July 6, 2017, except that, upon the Director of the Commission receiving confirmation of full payment to the OSC of the administrative penalty and costs orders made against WEBSTER as a result of the Settlement Agreement referred to in the OSC Order, WEBSTER be permitted to trade securities through a registrant for personal purposes in his own account, provided that he is not engaging in or holding himself out as engaging in the business of trading in securities, and provided WEBSTER first notifies the registrant of these conditions by delivering to the registrant a copy of this order.
4. 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 GWI permanently.
5. THAT, pursuant to section 148.3 of the Act, DEBOER be prohibited from becoming or acting as a director or officer of any issuer until and including January 6, 2020.
6. THAT, pursuant to section 148.3 of the Act, WEBSTER be prohibited from becoming or acting as a director or officer of any issuer that is a registrant or investment fund manager until and including July 6, 2017.
BY ORDER OF THE COMMISSION
Director