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THE SECURITIES ACT |
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Order No. 7256 |
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Sections 148, 19(5), and 148.3 |
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December 16, 2015 |
MICHAEL PATRICK LATHIGEE
WHEREAS:
(A) On March 16, 2015, the British Columbia Securities Commission (“BCSC”) issued a decision against Michael Patrick Lathigee (“BCSC Decision”);
(B) On August 28, 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 Michael Patrick Lathigee (“LATHIGEE”);
(C) On December 16, 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 and of the self-represented respondent appearing by telephone, 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, LATHIGEE cease trading in securities permanently, except that he may trade them for his own account through a registrant if he gives the registrant a copy of this order.
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 LATHIGEE permanently, except for those exemptions necessary to allow LATHIGEE to trade securities for his own account.
3. THAT, pursuant to section 148.3 of the Act, LATHIGEE resign any position he holds as a director or officer of an issuer and be prohibited permanently from becoming or acting as a director or officer of any issuer, except that he may act as a director or officer of one issuer whose securities are solely owned by him or by him and his immediately family members, being LATHIGEE’s spouse, parent, child, sibling, mother or father-in-law, son or daughter-in-law, or brother or sister-in-law.
4. THAT, pursuant to subsection 148.4(2) of the Act, in the event of the respondent proceeding with an appeal of the BCSC Decision, and the appeal or other related proceedings resulting in a change to, or stay of, any portion of the BCSC Decision now reciprocated by this order as against the respondent, upon the request of said respondent or staff, this order be reviewed by the Commission as to any variation, substitution, revocation, or other order which may be required, if any.
BY ORDER OF THE COMMISSION
Director