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THE SECURITIES ACT |
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Order No. 7368 |
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Sections 148, 19(5), 148.3, and 8 |
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July 6, 2016 |
FERNANDO POSTRADO
WHEREAS:
(A) On May 19, 2016, the Ontario Securities Commission (“OSC”) issued an order against Fernando Postrado (“OSC Order”);
(B) On June 13, 2016, 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 Fernando Postrado;
(C) Fernando Postrado, self-represented, has consented to the issuance of this order and has waived his right to a full hearing;
(D) 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, Fernando Postrado cease trading in any securities up to and including May 19, 2021, except that upon the Director having received confirmation that Fernando Postrado has satisfied paragraph (m) of the OSC Order with payment in full of the administrative penalty set out therein to the OSC, Fernando Postrado be permitted to trade in mutual fund, exchange-traded fund or index fund securities for the account of any registered retirement savings plans, tax-free savings accounts and self-directed retirement savings plans as defined in the Income Tax Act (Canada) of which the respondent has a sole legal and beneficial ownership and such trading is carried out through a registered dealer in Canada to whom he must give a copy of this order at the time he opens or modifies these accounts.
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 Fernando Postrado up to and including May 19, 2021, except that upon the Director having received confirmation that Fernando Postrado has satisfied paragraph (m) of the OSC Order with payment in full of the administrative penalty set out therein to the OSC, Fernando Postrado be permitted to trade in mutual fund, exchange-traded fund or index fund securities for the account of any registered retirement savings plans, tax-free savings accounts and self-directed retirement savings plans as defined in the Income Tax Act (Canada) of which the respondent has a sole legal and beneficial ownership and such trading is carried out through a registered dealer in Canada to whom he must give a copy of this order at the time he opens or modifies these accounts.
3. THAT, pursuant to section 148.3 of the Act, Fernando Postrado resign any position he holds as a director or as an officer of any issuer and be prohibited from becoming or acting as a director or as an officer of any issuer up to and including May 19, 2021.
4. THAT, pursuant to section 8 of the Act, Fernando Postrado be prohibited from becoming or acting as a registrant up to and including May 19, 2021.
BY ORDER OF THE COMMISSION
Director