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THE SECURITIES ACT |
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Order No. 7290 |
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Sections 148, 19(5), 148.3, and 8 |
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March 2, 2016 |
FRED LOUIS SEBASTIAN
WHEREAS:
(A) On August 27, 2015, the Financial and Consumer Affairs Authority of Saskatchewan (“FCAA”) issued an order against Fred Louis Sebastian (“FCAA Order”);
(B) On November 19, 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 Fred Louis Sebastian (“SEBASTIAN”);
(C) On January 13, 2016, this hearing matter came before a panel of the Commission and was adjourned to March 2, 2016 at 9:00 a.m.;
(D) On March 2, 2016, this hearing matter again came before a panel of the Commission;
(E) 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 Affidavits 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, SEBASTIAN cease trading in securities permanently.
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 SEBASTIAN permanently.
3. THAT, pursuant to section 148.3 of the Act, SEBASTIAN resign any position he holds as a director or officer of any issuer and be permanently prohibited from becoming or acting as a director or officer of any issuer.
4. THAT, pursuant to section 8 of the Act, SEBASTIAN be permanently prohibited from becoming or acting as a registrant.
BY ORDER OF THE COMMISSION
Deputy Director