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 SHAUN GERARD MCERLEAN,
SECURUS CAPITAL INC., AND
ACQUIESCE INVESTMENTS

TEMPORARY ORDER
Section 127(1) & 127(5)



WHEREAS it appears to the Ontario Securities Commission (the “Commission”) that:

  1. Shaun Gerard McErlean (“McErlean”) is an individual who resides in Ontario. He is the sole director of Securus Capital Inc., and appears to have registered Acquiesce Investments pursuant to the Business Names Act, R.S.O. 1990, c. B.17, as amended (the “BNA”). McErlean is not currently registered to trade in securities in Ontario;
  2. Securus Capital Inc. (“Securus”) is a corporation incorporated in the Province of Ontario and has never been a reporting issuer in Ontario or registered to trade in securities in Ontario;
  3. Acquiesce Investments is a sole proprietorship registered in the Province of Ontario pursuant to the BNA. Acquiesce Investments has never been a reporting issuer in Ontario or registered to trade in securities in Ontario;
  4. McErlean, Securus, and Acquiesce Investments (collectively, the “Respondents”) appear to be trading securities without registration or exemption contrary to National Instrument 31-103 – Registration Requirements and Exemptions (“NI 31-103”) and section 25 of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”). NI 31-103 and section 25 of the Act prohibit the trading of a security unless the registration requirements are satisfied or an exemption from the registration requirements is available.
  5. The Respondents appear to be engaging or participating in acts relating to trading in securities that they know, or reasonably ought to know, perpetrate a fraud on any person or a company, contrary to section 126.1 of the Act;

AND WHEREAS the Commission is of the opinion that the time required to conclude a hearing could be prejudicial to the public interest as set out in section 127(5) of the Act;

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

AND WHEREAS by Authorization Order made July 13, 2010, pursuant to subsection 3.5(3) of the Act, each of W. David Wilson, James E. A. Turner, Kevin J. Kelly, Carol S. Perry, Patrick J. LeSage, James D. Carnwath and Mary G. Condon acting alone, is authorized to exercise the powers of the Commission under the Act, subject to subsection 3.5(4) of the Act, to make orders under subsections 127(1) and 127(5) of the Act.

IT IS ORDERED pursuant to clause 2 of subsection 127(1) of the Act that all trading by the Respondents shall cease.

IT IS FURTHER ORDERED that pursuant to clause 3 of subsection 127(1) of the Act that the exemptions contained in Ontario securities law do not apply to the Respondents.

IT IS FURTHER ORDERED that pursuant to subsection 127(6) of the Act this order shall take effect immediately and shall expire on the fifteenth day after its making unless extended by order of the Commission.

 

DATED at Toronto this "12th" day of August, 2010.

 

" David Wilson "