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THE SECURITIES ACT |
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Order No. 6348 |
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Sections 148 and 148.3 |
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June 15, 2011 |
FREDERICK JOHNATHON NIELSEN, previously
known as FREDERICK JOHN GILLILAND
WHEREAS:
(A) On March 25, 2011, the Acting Executive Director of the British Columbia Securities Commission (“BCSC”) entered into a settlement agreement (“Settlement”) with Frederick Johnathon Nielsen, previously known as Frederick John Gilliland (“NIELSEN”) and made an order against him (“BCSC Order”);
(B) In the Settlement, NIELSEN consented to any securities regulator in Canada relying upon the facts admitted in the Settlement solely for the purpose of making an order similar to the one contemplated in the Settlement;
(C) On May 17, 2011, The Manitoba Securities Commission (“Commission”) issued a Notice of Hearing (“Notice”) giving notice of its intention to hold a hearing to consider whether or not it was in the public interest to grant orders pursuant to The Securities Act, R.S.M. 1988, c. S50 as amended (“Act”) with respect to NIELSEN;
(D) On June 15, 2011, the hearing proceeded before a panel of the Commission;
(E) Upon reviewing the documentary evidence and hearing the submissions of counsel for staff of the Commission, no one appearing for the respondent, and upon reviewing the Affidavit of Service, filed, and being satisfied as to service upon the respondent, 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 of the Act, NIELSEN cease trading in securities until and including March 25, 2036, except that he may trade and purchase securities through a registrant in one cash and one RSP account if he first provides a copy of this order to the registrant.
2. THAT, pursuant to section 148.3 of the Act, NIELSEN resign any position he holds as director or officer of any issuer and is prohibited from acting as a director or officer of any issuer until and including March 25, 2036.
BY ORDER OF THE COMMISSION
Deputy Director, Legal