| THE SECURITIES ACT | ) |
Order No. 6052 |
) |
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| Section 148(1) and19(5) | ) |
January 13, 2010 |
ADAM SHERMAN also known as
JASON SEBROOKE and MICHAEL CHAMBERS
WHEREAS:
(A) On November 27, 2008, the Saskatchewan Financial Services Commission, Securities Division (“SFSC”) issued an Extending Order (“SFSC Order”) against York Rio Resources Inc. (“YORK RIO”), Victor York also known as Victor Georgiadis (“VICTOR YORK”), Adam Sherman also known as Jason Sebrooke and Michael Chambers (“SHERMAN”), Tom Parker (“PARKER”), Joe London (“LONDON”), Peter Robinson (“ROBINSON”), Mark Roberts (“ROBERTS”), Abraham Saks (“SAKS”), Michael Walsh (“WALSH”) and Kevin Crawford (“CRAWFORD”);
(B) On July 3, 2009, The Manitoba Securities Commission (“MSC”) issued a Notice of Hearing (“Notice”) giving notice of its intention to hold a hearing to consider pursuant to section 148.4 of The Securities Act, R.S.M. 1988, c. S50 as amended (“Act”) whether or not it was in the public interest to grant orders with respect to YORK RIO, VICTOR YORK, SHERMAN, PARKER, LONDON, ROBINSON, ROBERTS, SAKS, WALSH and CRAWFORD (collectively, “respondents”);
(C) This hearing matter as it relates to SHERMAN came before a panel of the Commission on January 13, 2010, having previously been adjourned as shown by Order No. 5982, Order No. 6007, and Notices dated November 25, 2009 and December 7, 2009;
(D) Upon reviewing the documentary evidence and hearing the submissions of counsel for staff of the Commission, no one appearing for the respondent SHERMAN, and upon reviewing the Affidavit of Service, filed, and being satisfied as to service upon SHERMAN, 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(1) of the Act, trading in securities by SHERMAN cease until the MSC is provided with satisfactory information to enable it to make a further order.
2. THAT, pursuant to subsection 19(5) of the Act, subsection 19(1) of the Act does not, with respect to such of the trades referred to in that subsection, apply to SHERMAN and subsection 19(2) of the Act does not, with respect to such securities referred to in that subsection, apply to SHERMAN until the MSC is provided with satisfactory information to enable it to make a further order.
BY ORDER OF THE COMMISSION
Director, Enforcement and Legal