CMC Markets Asia Pacific Pty Ltd. - s. 211 of the Regulation

Order

Headnote

Application in connection with application for registration as an international dealer, for an order pursuant to section 211 of the Regulation exempting the applicant from the requirement in subsection 208(2) of the Regulation that it carry on the business of an underwriter in a country other than Canada.

Statutes Cited

Securities Act, R.S.O. 1990, c. S.5, as am., s. 1(1).

Regulations Cited

Regulation made under the Securities Act, R.R.O. 1990, Reg. 1015, as am., ss. 100(3), 208(2), 211.

IN THE MATTER OF

THE SECURITIES ACT,

R.S.O. 1990, CHAPTER S.5, AS AMENDED

(the Act)

AND

IN THE MATTER OF

R.R.O. 1990, REGULATION 1015,

AS AMENDED (the Regulation)

AND

IN THE MATTER OF

CMC MARKETS ASIA PACIFIC PTY LTD.

 

ORDER

(Section 211 of the Regulation)

UPON the application (the Application) of CMC Markets Asia Pacific Pty Ltd. (the Applicant) to the Ontario Securities Commission (the Commission) for an order (the Order), pursuant to section 211 of the Regulation, exempting the Applicant from the requirement in subsection 208(2) of the Regulation that the Applicant carry on the business of an underwriter in a country other than Canada, for the Applicant to be registered under the Act as a dealer in the category of international dealer;

AND UPON considering the Application and the recommendation of the staff of the Commission;

AND UPON the Applicant having represented to the Commission that:

1. The Applicant is formed under the laws of the state of New South Wales, Australia, with its principal place of business located in Sydney, New South Wales, Australia.

2. The Applicant is registered in Australia as a dealer with the Australian Securities and Investment Commission.

3. The Applicant does not currently carry on business as an underwriter in Australia or in any other jurisdiction.

4. The Applicant has filed an application for registration under the Act as a dealer in the category of international dealer in accordance with section 208 of the Regulation. The Applicant is not currently registered in any capacity under the Act.

5. In the absence of the relief requested in this Application, the Applicant would not meet the requirements of the Regulation for registration as an international dealer as the Applicant does not carry on the business of an underwriter in a country other than Canada.

6. The Applicant does not currently act as an underwriter in Ontario and the Applicant will not act as an underwriter in Ontario if it is registered under the Act as an international dealer.

AND UPON the Commission being satisfied that to do so would not be prejudicial to the public interest;

IT IS ORDERED, pursuant to section 211 of the Regulation, that, in connection with the registration of, the Applicant as a dealer under the Act in the category of international dealer, the Applicant is exempt from the provisions of subsection 208(2) of the Regulation requiring that the Applicant carry on the business of an underwriter in a country other than Canada, provided that, so long as the Applicant is registered under the Act as an international dealer the Applicant will carry on the business of a dealer in a country other than Canada.

January 8, 2008

"Wendell S. Wigle"
Commissioner
Ontario Securities Commission
 
"Carol S. Perry"
Commissioner
Ontario Securities Commission