R.S.O. 1990, c.S.5, AS AMENDED
- AND -
IN THE MATTER OF OLYMPUS UNITED GROUP INC.
AND WHEREAS on May 13, 2005, the Ontario Securities Commission (the “Commission”) made a temporary order suspending the registration of Olympus United Group Inc. (“Olympus”) because Olympus was operating without a registered trading and compliance officer in Ontario;
AND WHEREAS on May 20, 2005, the Commission made a temporary order imposing a term and condition on the registration of Olympus which precludes redemptions from any existing client accounts;
AND WHEREAS the hearing to consider the extension of the temporary orders made in relation to Olympus on May 13, 2005 and May 20, 2005, is scheduled to take place on October 20, 2006;
AND WHEREAS on June 29, 2005, by order of Justice Campbell of the Ontario Superior Court of Justice (Commercial List), RSM Richter Inc. ("Richter") was appointed as receiver over the assets, undertakings and properties of Norshield, Olympus and other related entities;
AND WHEREAS on October 11, 2006, the Commission commenced proceedings under sections 127 and 127.1 of the Securities Act, R.S.O. 1990, c.S.5, as amended (the “Act”) against Olympus and others (the “Proceedings”);
AND WHEREAS Staff of the Commission and Richter, as receiver over Olympus, have consented to the making of this order;
AND WHEREAS by Commission order made September 14, 2006 pursuant to section 3.5(3) of the Act, each of W. David Wilson, Susan Wolburgh Jenah, Paul M. Moore, Robert W. Davis, Harold P. Hands and Paul K. Bates, acting alone, is authorized to make orders under section 127 of the Act;
IT IS HEREBY ORDERED that:
1. the temporary orders made by the Commission on May 13, 2005 and May 20, 2005 are continued until the Proceeding is concluded and a decision of the Commission rendered or until the Commission considers appropriate; and
2. any person or company affected by this Order may apply to the Commission for an order revoking or varying the terms of this Order pursuant to section 144 of the Act.
DATED at Toronto this 20th day of October , 2006.
“Wendell S. Wigle”
“David L. Knight”
Wendell S. Wigle
David L. Knight