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THE SECURITIES ACT |
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Order No. 6622 |
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Sections 148, 19(5), and 148.3 |
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December 19, 2012 |
BRUCE CARLOS MITCHELL
WHEREAS:
(A) On February 2, 2012, the Ontario Securities Commission (“OSC”) issued an Order against Bruce Carlos Mitchell (“OSC Order”);
(B) On November 7, 2012, 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 Bruce Carlos Mitchell (“MITCHELL”);
(C) MITCHELL has consented to the issuance of this Order and has waived his right to a full hearing;
(D) 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, MITCHELL cease trading in securities until February 2, 2014 with the exception that once MITCHELL has complied with the undertakings to the OSC contained in clauses (a), (b), (c), and (d) of the Undertaking to the OSC attached as Schedule “1” to the OSC Order, MITCHELL is permitted to trade in securities in accounts held in his name only or in the name of Forwarders Properties Ltd., through any account with any registered representative that is a member of the Investment Industry Regulatory Organization of Canada (“IIROC”).
2. THAT, pursuant to subsection 19(5) of the Act, subsection 19(1) of the Act, with respect to such of the trades referred to in that subsection, and subsection 19(2) of the Act, with respect to such of the securities referred to in that subsection, do not apply to MITCHELL until February 2, 2014, except for trades undertaken by MITCHELL that are permitted pursuant to the exception provided for in paragraph 1 above.
3. THAT, pursuant to section 148.3 of the Act, MITCHELL be prohibited from becoming or acting as a director or officer of any issuer until February 2, 2022, with the exception of any position he holds as a director or officer in Norwall Group Inc. or Forwarders Properties, both private issuers of which Mitchell is a director or officer as at the date of this Order.
BY ORDER OF THE COMMISSION
Director – Legal and Enforcement