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THE SECURITIES ACT |
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Order No. 7255 |
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Sections 148, 19(5), and 148.3 |
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December 16, 2015 |
DAVID WAYNE MAGEE, MASTER DAYTRADERS INC.,
AND MAGEE INTERNATIONAL INC.
WHEREAS:
(A) On August 26, 2015, the Alberta Securities Commission (“ASC”) issued a Decision against David Wayne Magee, Master Daytraders Inc. and Magee International Inc. (“ASC Decision”);
(B) On October 28, 2015, The Manitoba Securities Commission (“Commission”) issued a Notice of Hearing (“Notice”) giving notice of its intention to hold a hearing to consider whether or not it was in the public interest to grant orders pursuant to The Securities Act, R.S.M. 1988 c. S50 as amended (“Act”) with respect to David Wayne Magee (“DAVID”), Master Daytraders Inc. (“MASTER DAYTRADERS”) and/or Magee International Inc. (“MAGEE INTERNATIONAL”);
(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, 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 sections 148 and 19(5) of the Act, DAVID cease trading in securities or derivatives and 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 David, permanently, except that upon the Director of the Commission having received confirmation that all monetary orders as ordered by the ASC in the ASC Decision for which DAVID is responsible have been paid in full to the ASC this order does not preclude him from trading in securities through a registrant, who has first been given a copy of this order, in:
(a) registered retirement savings plans, registered retirement income funds, registered education savings plans or tax-free savings accounts as defined in the Income Tax Act (Canada) or locked-in retirement accounts for the benefit of one or more of DAVID, his spouse and his dependent children;
(b) one other account for DAVID’s benefit; or
(c) both.
2. THAT, pursuant to section 148.3 of the Act, DAVID resign all positions he holds as a director or officer of any issuer and be permanently prohibited from becoming or acting as a director or officer or both of any issuer.
3. THAT, pursuant to sections 148 and 19(5) of the Act, each of MASTER DAYTRADERS and MAGEE INTERNATIONAL cease trading in securities or derivatives and 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 DAYTRADERS and MAGEE INTERNATIONAL, permanently.
BY ORDER OF THE COMMISSION
Director