| THE SECURITIES ACT | ) |
Order No. 5164 |
) |
||
| Sections 148 and 19(5) | ) |
September 15, 2006 |
PROMITTERE S & P
500 LIMITED,
PROMITTERE RETIREMENT TRUST, ROBERT JAMES THIESSEN,
NEIL FRIESEN, ROBERT BRIAN EGER, and IRENE ANNE ALESHKA
WHEREAS:
(A) The Manitoba Securities Commission ("Commission") has received Information which indicates that securities of PROMITTERE S & P 500 LIMITED ("PS&P") and of PROMITTERE RETIREMENT TRUST ("PRT") have been traded in Manitoba to members of the public by Robert James Thiessen ("THIESSEN"), Neil Friesen ("FRIESEN"), Robert Brian Eger ("EGER"), and Irene Anne Aleshka ("ALESHKA") in contravention of the provisions of The Securities Act ("Act");
(B) At all material times, THIESSEN operated PS&P and PRT;
(C) At all material times, none of THIESSEN, PS&P, and PRT were registered under the Act to trade in securities in Manitoba;
(D) At all material times, FRIESEN was not registered under the Act to trade in securities in Manitoba;
(E) At all material times, EGER and ALESHKA were registered as mutual fund salespersons under the Act;
(F) Information has been received by staff of the Commission that, among other things, securities in PS&P and PRT have been traded and may continue to be in the process of being traded in Manitoba without registration and without prospectus purportedly in reliance upon the Accredited Investor exemption provided for in NI 45-106 to investors who did not qualify as Accredited Investors;
(G) The Commission is of the opinion that in view of the foregoing it is in the public interest to make this order and that the holding of a hearing would cause a delay prejudicial to the public interest.
IT IS ORDERED:
1. THAT, pursuant to section 148 of the Act, commencing September 14, 2006, all trading in the securities of PS&P shall cease.
2. THAT, pursuant to section 148 of the Act, commencing September 14, 2006, all trading in the securities of PRT shall cease.
3. THAT, pursuant to section 19(5) of the Act, commencing September 14, 2006:
(a) subsections 19(1) and 19(3) of the Act do not, with respect to such of the trades referred to in those subsections, apply to THIESSEN; and
(b) subsection 19(2) of the Act does not, with respect to such of the securities referred to in that subsection, apply to THIESSEN.
4. THAT, pursuant to section 19(5) of the Act, commencing September 14, 2006:
(a) subsections 19(1) and 19(3) of the Act do not, with respect to such of the trades referred to in those subsections, apply to FRIESEN; and
(b) subsection 19(2) of the Act does not, with respect to such of the securities referred to in that subsection, apply to FRIESEN.
5. THAT, pursuant to section 19(5) of the Act, commencing September 14, 2006:
(a) subsections 19(1) and 19(3) of the Act do not, with respect to such of the trades referred to in those subsections, apply to EGER; and
(b) subsection 19(2) of the Act does not, with respect to such of the securities referred to in that subsection, apply to EGER.
6. THAT, pursuant to section 19(5) of the Act, commencing September 14, 2006:
(a) subsections 19(1) and 19(3) of the Act do not, with respect to such of the trades referred to in those subsections, apply to ALESHKA; and
(b) subsection 19(2) of the Act does not, with respect to such of the securities referred to in that subsection, apply to ALESHKA.
7. THAT, pursuant to sections 148 and 19(6) of the Act, this order shall expire on September 29th, 2006, unless extended by further order of the Commission.
BY ORDER OF THE COMMISSION
Deputy Director