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Order No. 7447




Subsection 19(5), 148.1(1) and 148.2(3)          


January 31, 2018





(A)         On December 7, 2015, staff of The Manitoba Securities Commission (“Commission”) issued an Amended Notice of Hearing (“Notice”) giving notice of its intention to hold a hearing to consider, inter alia, whether or not it was in the public interest to grant an order pursuant to subsections 19(5), 148.1(1) and 148.2 of The Securities Act (“Act”) with respect to Arthur Leon Schellenberg (“SCHELLENBERG”);


(B)         After reading the Amended Notice and Amended Statement of Allegations of staff, noting service having been effected on SCHELLENBERG, after reviewing the evidence and submissions of staff and SCHELLENBERG during the hearing taken place on February 22nd, 2016, February 24th to 26th, 2016, March 9th, 2016, May 2nd to May 6th, 2016, May 9th to 12th, 2016, June 22nd to 23rd, 2016, and July 6th, 2016, SCHELLENBERG appearing on his own behalf and upon reviewing the evidence and submissions of staff on sanctions on June 26th, 2017, SCHELLENBERG having failed to appear despite being provided notice of this date, it is the opinion of the Commission it is in the public interest to make this order.




1.                            THAT, pursuant to subsection 19(5) of the Act:


(a)          subsection 19(1) of the Act does not, with respect to such of the trades referred to in that that subsection, apply to SCHELLENBERG, and;


(b)          subsection 19(2) of the Act does not, with respect to such securities referred to in that subsection, apply to SCHELLENBERG.


2.                            THAT, pursuant to subsection 148.1(1) of the Act SCHELLENBERG pay an administrative penalty of $25,000.00.


3.                            THAT, pursuant to subsection 148.2(3) of the Act, SCHELLENBERG pay compensation for financial loss to:


(a)          Peter Ilchyna the sum of $100,906.32;


(b)          Bernadette Warkentin-Geras the sum of $49,526.67; and


(c)          Garnet and Beverly Williams the sum of $8,804.72.


4.                            THAT SCHELLENBERG pay to the Commission costs in the amount of $95,761.66.






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