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THE SECURITIES ACT |
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Order No. 6671 |
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Sections 148, 19(5), and 148.3 |
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March 21, 2013 |
SHAUN GERARD McERLEAN
AND SECURUS CAPITAL INC.
WHEREAS:
(A) On October 24, 2012, the Ontario Securities Commission (“OSC”) issued an Order against Shaun Gerard McErlean and Securus Capital Inc. (“OSC Order”);
(B) On January 17, 2013, 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 Shaun Gerard McErlean (“McERLEAN”) and/or Securus Capital Inc. (“SECURUS”);
(C) On March 20, 2013, this hearing matter came before a panel of the Commission;
(D) Upon reviewing the documentary evidence and hearing the submissions of counsel for staff of the Commission and of the respondents through McERLEAN appearing by telephone, and upon reviewing the Affidavits of Service, filed, and being satisfied as to service upon the respondents, 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, McERLEAN and SECURUS cease trading in securities permanently.
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 McERLEAN and SECURUS permanently.
3. THAT, pursuant to section 148.3 of the Act, McERLEAN be permanently prohibited from becoming or acting as a director or officer of any issuer.
4. THAT, in the event of the respondents proceeding with an appeal of the OSC Order, and the appeal resulting in a change to any portion of the OSC Order now reciprocated by this order of the Commission, upon the request of the respondents, or either of them, this order be reviewed by the Commission as to any variation which may be required if any.
BY ORDER OF THE COMMISSION
Director