| THE SECURITIES ACT | ) |
Order No. 5471 |
) |
||
| Section 20(1) | ) |
August 30, 2007 |
GLOBAL MAXFIN INVESTMENTS INC. and BRENT MOOR
WHEREAS:
(A) Global Maxfin Investments Inc. ("Global") and Brent Moor ("Moor") have applied to The Manitoba Securities Commission (the "Commission") for an order pursuant to Section 20(1) of the Securities Act (the "Act"), for an exemption from the registration and prospectus requirements contained in sections 6 and 37 of the Act;
(B) Global and Moor have represented to the Commission that:
1. Global has its head office in Ontario and is registered in a category equivalent to a mutual fund dealer under the Act in the provinces of Ontario, British Columbia, Nova Scotia, Newfoundland and Labrador, Quebec, New Brunswick and Saskatchewan.
2. Global has applied for registration in Manitoba under the Act in the category of mutual fund dealer.
3. Moor is a resident of Ontario.
4. Moor has been registered as a salesperson of Global in Ontario since February 2007. Prior to his registration with Global, Moor was registered with another mutual fund dealer.
5. At the time of transferring registration to Global, Global agreed with Moor to obtain registration in Manitoba. This registration was primarily intended to permit Moor to continue to serve five clients (the "Manitoba Clients") who are resident in Manitoba.
6. Moor has acted as a salesperson for the Manitoba Clients for a substantial period of time.
7. The Manitoba Clients are presently being serviced by Moor’s prior employer, however each of the Manitoba Clients would prefer to conduct trading activities with Moor. The Manitoba Clients have no connection with the salesperson assigned to them by Moor’s previous employer.
(C) The Commission is of the opinion that it would not be prejudicial to the public interest to grant the order requested.
IT IS ORDERED:
1. THAT, pursuant to Section 20(1) of the Act, trades in securities by Global and Moor to the Manitoba Clients be exempt from the registration and prospectus requirements of the Act, subject to the following terms and conditions:
(a) Each Manitoba Client that intends to conduct business with Global and Moor receive a copy of this Order and provides a written acknowledgement to the Commission that they agree to transfer their account to Global pursuant to the terms of this Order;
(b) Global and Moor will conduct trades with each of the Manitoba Clients in a manner that is in compliance with the requirements imposed upon a mutual fund dealer and salesperson of a mutual fund dealer registered under the Act;
(c) Global and Moor will proceed with application for registration under the Act; and
(d) The registration of Global and Moor remains in good standing in Ontario.
2. THAT this order will remain in effect until the earlier of March 1, 2008 or the date Global and Moor become registered as a mutual fund dealer under the Act.
3. THAT, the fee for this order is $650.00.
BY ORDER OF THE COMMISSION
Director – Legal