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THE SECURITIES ACT |
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Order No. 7148 |
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Sections 148, 19(5) and 148.3 |
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July 8, 2015 |
LORNE MICHAEL PIETT
WHEREAS:
(A) On December 22, 2014, the Financial and Consumer Affairs Authority of Saskatchewan (“FCAA”) issued an order against Lorne Michael Piett (“FCAA Order”);
(B) On March 13, 2015, The Manitoba Securities Commission (“Commission”) issued a Notice of Hearing (“Notice”) giving notice of its intention to hold a hearing pursuant to section 148.4 of The Securities Act, R.S.M. 1988, c. S50 as amended (“Act”) to consider whether or not it was in the public interest to grant orders pursuant to sections 148, 19(5), and 148.3 of the Act with respect to Lorne Michael Piett (“PIETT”);
(C) On July 8, 2015, 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 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, PIETT cease trading in any securities or exchange contracts up to and including November 9, 2024.
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 PIETT up to and including November 9, 2024.
3. THAT, pursuant to section 148.3 of the Act, PIETT resign any position he holds as a director or officer of any issuer and be prohibited from becoming or acting as a director or officer of any issuer up to and including November 9, 2024.
BY ORDER OF THE COMMISSION
Director