-=:
MA NIT OBA
CURITI ES
C OMMISS I O
N
IN THE MATTER OF:
THE SECURITIES ACT
-and-
IN THE MATTER OF:
BARRIE WILLIAM CAHILL and
DUNDEE PRIVATE INVESTORS INC.
STATEMENT OF ALLEGATIONS OF STAFF OF THE
MANITOBA SECURITIES COMMISSION
STAFF OF THE MANITOBA SECURITIES COMMISSION ALLEGE, AMONG
OTHER THINGS, THAT:
A.
REGISTRATION
1.
Barrie William Cahill ("CAHILL") was registered under The Securities Act of
Manitoba ("Act") as a salesperson with various employing sponsors from
January 9, 1990 to January 15, 2004. For part of his registration period , at
a time not relevant to this proceeding, CAHILL was also registered as a
Branch Manager.
2.
CAHILL has not been reg istered under the Act in any capacity since
January 15, 2004.
3.
Dundee Private Investors Inc. ("DUNDEE") is currently registered as a
Mutual Fund Dealer.
4.
At all material times commencing April 9, 2002, CAHILL's employing
mutual fund dea ler was Cartier Partners Financial Services Inc., which
changed its name to DUNDEE on or about June 1, 2004.
5.
CAHILL has never been registered under the Act as a salesperson of
Premier Gymnastics Limited.
500-400 St. Mary Avenue, Winni peg, Manitoba R3C 4K5 • tel: (204) 945.2548 • fax : (204) 945 .0330· www.msc.gov.mb.ca
Page 2
6.
Premier Gymnastics Limited has not been registered under the Act in any
capacity, nor has it at any time filed a preliminary prospectus or prospectus
with The Manitoba Securities Commission ("Commission") .
7.
Premier Gymnastics Limited has not applied for, made filings pursuant to,
or
been
granted
an
exemption
from
registration
and
prospectus
requirements as permitted by the Act.
8.
On May 21, 2008, charges were laid against CAHILL in the Provincial
Court of Manitoba ("Court").
9.
On November 19, 2009, CAHILL was found guilty of the following:
COUNT 1
BARRIE WILLIAM CAHILL, between the 15\ day of August, 2002 and the 31
S
\ day
of October, 2002, both dates inclusive, at or near the City of Winnipeg, in the
Province of Manitoba, did act as a salesman of,
or on
behalf of,
Premier
Gymnastics Limited in connection with a trade in a security to Gertrude Patricia
Page for consideration of $60,000.00 while not registered to do so under The
Securities Act, contrary to Section 6(3) of The Securities Act, and did thereby
commit an offence contrary to Section 136(1 )(c) of The Securities Act.
10.
On August 12, 2010, for the above securities offence, the Court imposed a
sentence upon CAHILL of a period of incarceration of six months.
11 .
In addition to the securities offence, on August 11 , 2010, CAHILL was also
found guilty of an offence under the Criminal Code of Canada for which a
disposition was imposed on August 31 , 2010 including a Restitution Order
for CAHILL to pay $50,000 to Gertrude Page.
12.
To date no payments toward restitution have been paid by CAHILL.
13.
The Director, Legal and Enforcement ("Director") of the Commission has
received an application for a claim for compensation for financial loss and
requests the Commission order financial loss compensation in amounts
and as against any person and/or company as may be determined at or
prior to hearing .
B.
ALLEGATIONS
1.
Staff of the Commission allege that CAH ILL contravened section 6(3) of
the Act and that, due to these allegations, pursuant to section 148 of the
Act CAHILL should be cease traded , pursuant to subsection 19(5) of the
Act CAHILL should not be entitled to use any of the exemptions permitted
by the Act and not be entitled to participate in the exempt markets in
Manitoba in the future, and pursuant to section 148.2 of the Act CAHILL
should be ordered to pay compensation for financial loss to Gertrude
Patricia Page.
2.
As against DUNDEE, staff of the Commission allege that a contravention
or failure to comply as itemized in section 148.2(3)(a) of the Act on the part
of CAHILL occurred in the course of his employment by or while he was
acting on behalf of DUNDEE or a predecessor, such that pursuant to
section
148.2(4)
of the
Act ,
compensation for financial loss to Gertrude Patricia Page pursuant to
section 148.2 of the Act.
3.
Such
further
and
other
matters
Commission may permit.
DATED at Winnipeg, Manitoba this , )
TO:
BARRIE WILLIAM CAHILL
AND TO:
DUNDEE PRIVATE INVESTORS INC.
Page 3
DUNDEE
should
be
ordered
to
pay
as
counsel
may
advise
and
the
.~ day of March, 2011.
DirectorO-egal and Enfor ement
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