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 ADRIAN SAMUEL LEEMHUIS, FUTURE
GROWTH GROUP INC., FUTURE GROWTH FUND LIMITED, FUTURE GROWTH
GLOBAL FUND LIMITED, FUTURE GROWTH MARKET NEUTRAL FUND
LIMITED, FUTURE GROWTH WORLD FUND, and ASL DIRECT INC.


STATEMENT OF ALLEGATIONS OF STAFF
OF THE ONTARIO SECURITIES COMMISSION


Staff make the following Allegations in support of its Amended Notice of Hearing to extend the Temporary Orders dated April 22, 2008 and May 1, 2008:

THE RESPONDENTS

1. Adrian Samuel Leemhuis (“Leemhuis”) is an individual who resides in Ontario. He is the directing mind of ASL Direct Inc. (“ASL”). Leemhuis is registered with the Commission as a mutual fund salesperson. ASL is a member of the Mutual Fund Dealers Association (“MFDA”) and Leemhuis is an Approved Person with ASL.

2. Future Growth Group Inc., Future Growth Fund Limited, Future Growth Global Fund Limited, Future Growth Market Neutral Fund Limited, and Future Growth World Fund (the “Future Growth Group of Funds”) are companies incorporated in the British Virgin Islands (“BVI”). They are fund companies administered by Commonwealth Trust Services Limited which receives directions from International Financial Capital Ltd.(“IFCL”). Leemhuis is the directing mind of IFCL.

3. ASL is a company incorporated in Ontario. It is registered with the Commission as a mutual fund dealer and as a limited market dealer. It is a member of the MFDA.

ALLEGATIONS

4. Staff allege that:
(a) Leemhuis and ASL have distributed the Future Growth Group of Funds without a receipted prospectus and without an exemption from the requirement for a receipted prospectus contrary to section 53(1) of the Securities Act (Ontario) (the “Act”);

(b) The Future Growth Group of Funds have traded their securities without a prospectus and without an exemption from the requirement for a receipted prospectus contrary to section 53(1) of the Act;

(c) Leemhuis and ASL have made materially misleading statements in documents required to be filed in support of their registration contrary to section 122(1) (b) of the Act;

(d) Leemhuis and ASL have failed to meet the standard of conduct required of a Member and an Approved Person by making materially misleading statements in documents submitted to the MFDA contrary to MFDA Rule 2.1.1 and thereby acted contrary to the public interest;

(e) Leemhuis and ASL have failed to conduct all their securities related business through the facilities of the Member contrary to MFDA Rule 1.1.1 and thereby acted contrary to the public interest;

(f) Leemhuis and ASL have failed to satisfy the standard of conduct required of a Member and an Approved Person to act fairly, honestly and in good faith with their clients by failing to rebate trailer fee commissions to clients as promised and owed contrary to MFDA Rule 2.1.1 and thereby acted contrary to the public interest; and,

(g) ASL has failed to satisfy its financial and operational requirements as required by MFDA Rule 3 and thereby acted contrary to the public interest.
CONDUCT CONTRARY TO ONTARIO SECURITIES LAW AND CONTRARY TO THE PUBLIC INTEREST

5. Staff allege that the conduct alleged above constitutes conduct contrary to Ontario securities law and/or conduct contrary to the public interest.

6. Staff reserves the right to amend this Statement of Allegations.


DATED at Toronto this 8th day of May , 2008.