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THE SECURITIES ACT |
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Order No. 7426 |
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Sections 148, 19(5), 148.3, and 8 |
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September 27, 2017 |
TECHOCAN INTERNATIONAL CO. LTD. AND
HAIYAN (HELEN) GAO JORDAN
WHEREAS:
(A) On March 24, 2017, the Ontario Securities Commission (“OSC”) issued an order against Techocan International Co. Ltd. and Haiyan (Helen) Gao Jordan (“OSC Order”);
(B) On June 8, 2017, 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 Techocan International Co. Ltd. (“TECHOCAN”) and/or Haiyan (Helen) Gao Jordan (“JORDAN”);
(C) On September 27, 2017, 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, TECHOCAN and JORDAN cease trading in securities or derivatives until and including March 24, 2022 except:
(a) JORDAN may trade securities or derivatives in accounts managed by an independent, arms-length portfolio manager who is registered in accordance with Manitoba securities law, to whom JORDAN has given a copy of this order, in an account with respect to which JORDAN has no direction or control over the selection of specific securities, and provided JORDAN only has annual discussions with the registered portfolio manager for the sole purpose of her providing information regarding general investment objectives, suitability and risk tolerance or as required under Manitoba securities law, and
(b) JORDAN may trade, as beneficial owner, in securities of a private company, provided that she does not engage in the business of trading in securities.
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 TECHOCAN and JORDAN until and including March 24, 2022.
3. THAT, pursuant to section 148.3 of the Act, JORDAN be prohibited from becoming or acting as a director or officer of an issuer that is not a private company until and including March 24, 2022.
4. THAT, pursuant to sections 148.3 and 8 of the Act, JORDAN be prohibited from becoming or acting as a registrant, an investment fund manager, or a promoter, or as a director or officer of a registrant or an investment fund manager, until including March 24, 2022.
BY ORDER OF THE COMMISSION
Deputy Director