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THE SECURITIES ACT |
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Order No. 7364 |
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Sections 148, 19(5), and 148.3 |
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July 6, 2016 |
IVAN CAVRIC
WHEREAS:
(A) On June 4, 2014, the Ontario Securities Commission (“OSC”) issued an order against Ivan Cavric (“OSC Order”);
(B) On February 1, 2016, 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 Ivan Cavric (“CAVRIC”);
(C) On April 13, 2016, this hearing matter came before a panel of the Commission and was adjourned to May 18, 2016, and subsequently thereafter to June 1, 2016 and July 6, 2016;
(D) Staff have received information that on or about May 6, 2016, the respondent CAVRIC filed a Notice of Appeal in the Court of Appeal for Ontario regarding the OSC Order;
(E) Upon reviewing the documentary evidence and hearing the submissions of counsel for staff of the Commission and for the respondent CAVRIC, 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, CAVRIC cease trading in securities until and including June 4, 2024.
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 CAVRIC up to and including June 4, 2024.
3. THAT, pursuant to section 148.3 of the Act, CAVRIC resign from all positions he may hold as a director or officer of an issuer and be prohibited from becoming or acting as a director or officer of any issuer up to and including June 4, 2024.
4. THAT, pursuant to subsection 148.4(2) of the Act, in the event of the appeal of the respondent from the OSC Order, or other related proceedings, resulting in a change to, or stay of, any portion of the OSC Order 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