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THE SECURITIES ACT |
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Order No. 7369 |
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Sections 148, 19(5), 148.3, and 8 |
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July 6, 2016 |
EVGUENI TODOROV AND SETENTERPRICE
WHEREAS:
(A) On March 15, 2016, the Ontario Securities Commission issued an order against Evgueni Todorov (“TODOROV”) and Setenterprice;
(B) On May 5, 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 TODOROV and/or Setenterprice;
(C) On July 6, 2016, 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 section 148 of the Act, TODOROV and Setenterprice cease trading in any 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 TODOROV and Setenterprice permanently.
3. THAT, pursuant to section 148.3 of the Act, TODOROV resign any positions he holds as a director or officer of any issuer and be prohibited permanently from becoming or acting as a director or officer of any issuer.
4. THAT, pursuant to section 8 of the Act, TODOROV be prohibited permanently from becoming or acting as a registrant.
5. THAT, pursuant to subsection 148.4(2) of the Act, in the event of either or both of the respondents proceeding with an appeal of the OSC Order referred to above, and the appeal or other related proceedings resulting in a change to, or stay of, any portion of said 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