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THE SECURITIES ACT |
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Order No. 6657 |
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Sections 148, 19(5), and 148.3 |
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March 6, 2013 |
PAUL SWABY AND ZOMPAS CONSULTING
WHEREAS:
(A) On July 26, 2012, the Ontario Securities Commission (“OSC”) issued an Order against Paul Swaby and Zompas Consulting (“OSC Order”);
(B) On January 29, 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 Paul Swaby (“SWABY”) and/or Zompas Consulting (“ZOMPAS”);
(C) On March 6, 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, no one appearing for the respondents, 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, SWABY and ZOMPAS cease trading in securities until July 26, 2022, with the exception that, once the Director of the Commission has received confirmation that the entire amount of payments set out in paragraphs (i), (j), and (k) of the OSC Order are paid in full, SWABY shall be permitted to trade securities for the account of his registered retirement savings plan as defined in the Income Tax Act, R.S.C. 1985, c.1 as amended (“Income Tax Act”) solely through a registered dealer or, as appropriate, a registered dealer in a foreign jurisdiction, which dealer must be given a copy of this Order, in (a) any “exchange-traded security” or “foreign exchange-traded security” within the meaning of National Instrument 21-101 provided that he does not own beneficially or exercise control or direction over more than 5 percent of the voting or equity securities of the issuer(s) of any such securities, or (b) any security issued by a mutual fund that is a reporting issuer.
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 SWABY and ZOMPAS until July 26, 2022.
3. THAT, pursuant to section 148.3 of the Act, SWABY resign any position he holds as a director or officer of an issuer and be prohibited from becoming or acting as a director or officer of an issuer until July 26, 2022.
4. THAT until the Director of the Commission has received confirmation that the entire amount of payments set out in paragraphs (i), (j), and (k) of the OSC Order are paid in full, the orders in paragraphs 1, 2, and 3 above shall continue in force without any limitation as to time period.
BY ORDER OF THE COMMISSION
Director