Proceedings

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IN THE MATTER OF THE SECURITIES ACT
R.S.O. 1990, c. S.5, AS AMENDED

– AND –

IN THE MATTER OF
SAXON FINANCIAL SERVICES, SAXON CONSULTANTS LTD., INTERNATIONAL
MONETARY SERVICES, FXBRIDGE TECHNOLOGIES, INC., MEISNER
CORPORATION, MERCHANT CAPITAL MARKETS, S.A., MERCHANT CAPITAL
MARKETS, MERCHANTMARX, SIMON BACHUS, JOSEPH CUNNINGHAM,
RICHARD CLIFFORD, RYAN CASON, JOHN HALL, DONNY HILL, JEREMY
JONES, MARK KAUFMANN, CONRAD PRAAMSMA, JUSTIN PRAAMSMA, SCOTT
SANDERS, JACK SINNI, MARC THIBAULT, SEAN WILSON and TODD YOUNG

ORDER
Section 127(8)


      WHEREAS on July 26, 2007, the Ontario Securities Commission (the “Commission”) ordered pursuant to clause 2 of subsection 127(1) of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”) that the Respondents, their officers, directors, employees and/or agents cease trading in all securities immediately (the “Temporary Order”);

      WHEREAS the Commission further ordered that pursuant to subsection 127(6) of the Act the Temporary Order shall take effect immediately and shall expire on the fifteenth day after its making unless extended by the Commission.;

      WHEREAS on July 26, 2007 the Commission issued a Notice of Hearing to consider, among other things, the extension of the Temporary Order, to be held on August 9, 2007 at 10:00 a.m.;

      WHEREAS pursuant to subsections 127(1) and 127(8) of the Act, a hearing was held on August 9, 2007 where the Respondents, FxBridge Technologies, Inc., International Monetary Services, Simon Bachus and Joseph Cunningham, were in attendance and the hearing was adjourned to October 10, 2007 and the Temporary Order was extended on consent of all parties present during the period of the adjournment;

      WHEREAS on October 10, 2007, a hearing was held and the Commission was advised that the Respondents, FxBridge Technologies, Inc. and Joseph Cunningham requested an adjournment of the hearing and a further extension of the Temporary Order during the period of the adjournment and the Respondents, International Monetary Services and Simon Bachus, consented to the adjournment and further extension of the Temporary Order during the period of the adjournment;

      WHEREAS on December 14, 2007, a hearing was held and the Commission was advised that the Respondents, International Monetary Services and Simon Bachus requested an adjournment of the hearing and a further extension of the Temporary Order during the period of the adjournment and the Respondents, FxBridge Technologies, Inc. and Joseph Cunningham, consented to the adjournment and further extension of the Temporary Order during the period of the adjournment;

      WHEREAS on March 28, 2008, a hearing was held and the Commission was advised that Staff of the Commission were not seeking an extension of the Temporary Order against International Monetary Services, Simon Bachus, Joseph Cunningham, FxBridge Technologies, Inc., Merchant Capital Markets, S.A., Merchant Capital Markets, and MerchantMarx;

      WHEREAS the Commission is of the opinion that the time required to conclude a hearing could be prejudicial to the public interest;

      WHEREAS the Commission is of the opinion that it is in the public interest to make this order;

      WHEREAS pursuant to subsection 127(8) of the Act, satisfactory information has been provided to the Commission regarding International Monetary Services, Simon Bachus, Joseph Cunningham, FxBridge Technologies, Inc., Merchant Capital Markets, S.A., Merchant Capital Markets, and MerchantMarx;

      WHEREAS pursuant to subsection 127(8) of the Act, satisfactory information has not been provided to the Commission by Saxon Financial Services, Saxon Consultants, Ltd., Meisner Corporation, Richard Clifford, Ryan Cason, John Hall, Donny Hill, Jeremy Jones, Mark Kaufman, Conrad Praamsma, Justin Praamsma, Scott Sanders, Jack Sinni, Marc Thibault, Sean Wilson, and Todd Young;

      IT IS ORDERED pursuant to subsection 127(8) of the Act that:
  1. the hearing is adjourned to June 10, 2008 at 2:30 p.m.;
  2. the Temporary Order is not extended as against International Monetary Services, Simon Bachus, Joseph Cunningham, FxBridge Technologies, Inc., Merchant Capital Markets, S.A., Merchant Capital Markets, and MerchantMarx; and,
  3. the Temporary Order be extended as against Saxon Financial Services, Saxon Consultants, Ltd., Meisner Corporation, Richard Clifford, Ryan Cason, John Hall, Donny Hill, Jeremy Jones, Mark Kaufman, Conrad Praamsma, Justin Praamsma, Scott Sanders, Jack Sinni, Marc Thibault, Sean Wilson, and Todd Young during the period of the adjournment.

Dated at Toronto this 28th day of March, 2008.

James E.A. Turner

James E.A. Turner
 
Carol S. Perry

Carol S. Perry