IN THE MATTER OF: THE SECURITIES ACT
-and-
IN THE MATTER OF: DEAN WILLIAM SENTES
STATEMENT OF ALLEGATIONS OF STAFF OF THE
MANITOBA SECURITIES COMMISSION
STAFF OF THE MANITOBA SECURITIES COMMISSION ALLEGE, AMONG OTHER THINGS, THAT:
A. STATEMENT OF FACTS
1. At all material times, Dean William Sentes ("Sentes") was not registered to trade in securities under The Securities Act of Manitoba ("Act").
2. Prior to the material time, Sentes was previously registered under the Act as a salesman from June 4, 1996 to November 25, 1996. Sentes has not been registered under the Act since then and continues to remain unregistered at this time.
3. On October 7, 2003, guilty pleas were entered by Sentes through counsel in the Provincial Court of Manitoba ("court") to seven counts of trading without registration contrary to section 6(1) of the Act.
4. The charges before the court to which Sentes pled guilty were as follows:
COUNT 1
DEAN WILLIAM SENTES, between the 1st day of February, 1999 and the 31st day of March, 1999, both dates inclusive, at or near the City of Winnipeg, in the Province of Manitoba, did trade in securities without being duly registered under The Securities Act, to wit: in connection with purchases of shares of AGF mutual funds by Alexander Lehnert in the total approximate amount of $35,000.00 contrary to Section 6(1) of The Securities Act, and did thereby commit an offence contrary to Section 136(1)(c) of The Securities Act.
COUNT 2
DEAN WILLIAM SENTES, between the 1st day of February, 1999 and the 31st day of March, 1999, both dates inclusive, at or near the City of Winnipeg, in the Province of Manitoba, did trade in securities without being duly registered under The Securities Act, to wit: in connection with purchases of units of Mackenzie mutual funds by Alexander Lehnert in the total approximate amount of $35,000.00 contrary to Section 6(1) of The Securities Act, and did thereby commit an offence contrary to Section 136(1)(c) of The Securities Act.
COUNT 3
DEAN WILLIAM SENTES, between the 1st day of February, 1999 and the 31st day of March, 1999, both dates inclusive, at or near the City of Winnipeg, in the Province of Manitoba, did trade in securities without being duly registered under The Securities Act, to wit: in connection with purchases of units of AIC mutual funds by Ann Lehnert in the total approximate amount of $15,000.00 contrary to Section 6(1) of The Securities Act, and did thereby commit an offence contrary to Section 136(1)(c) of The Securities Act.
COUNT 4
DEAN WILLIAM SENTES, between the 1st day of February, 1999 and the 31st day of March, 1999, both dates inclusive, at or near the City of Winnipeg, in the Province of Manitoba, did trade in securities without being duly registered under The Securities Act, to wit: in connection with purchases of units of Mackenzie mutual funds by Ann Lehnert in the total approximate amount of $15,000.00 contrary to Section 6(1) of The Securities Act, and did thereby commit an offence contrary to Section 136(1)(c) of The Securities Act.
COUNT 5
DEAN WILLIAM SENTES, between the 1st day of February, 1999 and the 30th day of June, 1999, both dates inclusive, at or near the City of Winnipeg, in the Province of Manitoba, did trade in securities without being duly registered under The Securities Act, to wit: in connection with purchases of units of Mackenzie mutual funds by Alexander Lehnert in the total approximate amount of $14,500.00 contrary to Section 6(1) of The Securities Act, and did thereby commit an offence contrary to Section 136(1)(c) of The Securities Act.
COUNT 6
DEAN WILLIAM SENTES, between the 1st day of February, 1999 and the 31st day of July, 1999, both dates inclusive, at or near the City of Winnipeg, in the Province of Manitoba, did trade in securities without being duly registered under The Securities Act, to wit: in connection with redemption of shares of AGF mutual funds by Alexander Lehnert in the total approximate net amount of $2,000.00 contrary to Section 6(1) of The Securities Act, and did thereby commit an offence contrary to Section 136(1)(c) of The Securities Act.
COUNT 7
DEAN WILLIAM SENTES, between the 1st day of February, 1999 and the 31st day of October, 1999, both dates inclusive, at or near the City of Winnipeg, in the Province of Manitoba, did trade in securities without being duly registered under The Securities Act, to wit: in connection with redemption of units of Mackenzie mutual funds by Alexander Lehnert in the total approximate net amount of $2,000.00 contrary to Section 6(1) of The Securities Act, and did thereby commit an offence contrary to Section 136(1)(c) of The Securities Act.
5. On October 7, 2003, Judge Joyal imposed a total fine of $4,000.00 for the foregoing offences.
B. ALLEGATIONS
1. Staff of the Commission allege that:(a) Sentes traded in securities without having been registered in contravention of section 6 of the Act;
and that due to these allegations, Sentes should not be entitled to use any of the exemptions set out in the Act and should not be entitled to participate in the exempt markets in Manitoba in the future and that an administrative penalty pursuant to section 148.1(1) of the Act should be ordered against Sentes.
2. Such further and other matters as counsel may advise and the Commission may permit.
DATED at Winnipeg, Manitoba this 30th day of October, 2003.
Director, Legal and Enforcement
TO: DEAN WILLIAM SENTES