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 PRO-FINANCIAL ASSET MANAGEMENT INC.,
STUART MCKINNON and JOHN FARRELL

ORDER
(Section 127)



WHEREAS:

  1.   On December 9, 2014, the Ontario Securities Commission (the “Commission”) issued a Notice of Hearing pursuant to sections 127 and 127.1 of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”) returnable on January 14, 2015 accompanied by a Statement of Allegations dated December 8, 2014 with respect to Pro-Financial Asset Management Inc. (“PFAM”), Stuart McKinnon (“McKinnon”) and John Farrell (“Farrell”) (collectively, the “Respondents”);
  2.    On January 14, 2015, Staff of the Commission (“Staff”), counsel for PFAM and McKinnon and counsel for Farrell attended before the Commission;
  3.    On January 14, 2015, the Commission ordered that the hearing be adjourned to February 25, 2015 at 10:00 a.m. for the purpose of scheduling a date for a confidential pre-hearing conference as may be appropriate;
  4.    On February 25, 2015, Staff advised that the initial electronic disclosure of approximately 11,000 pages was sent to counsel for the Respondents on January 12, 2015 and the remaining electronic disclosure of approximately 7,400 pages was sent to counsel for the Respondents on February 24, 2015;
  5.    On February 25, 2015, Staff advised that the Commission order dated January 14, 2015 should have referred to 11,000 pages of disclosure and not 11,000 documents; 
  6.    On February 25, 2015, a confidential pre-hearing conference was held immediately following the public hearing as requested by the parties; 
  7.    On April 9, 2015, the confidential pre-hearing conference continued and Staff, counsel for PFAM and McKinnon, and counsel for Farrell attended before the Commission;
  8.    On June 15, 2015, the confidential pre-hearing conference continued and Staff and counsel for PFAM and McKinnon attended before the Commission;
  9.    The parties consent to the terms of this Order; and
  10. The Commission is of the opinion that it is in the public interest to make this Order;

IT IS HEREBY ORDERED that:

  1. The Second Appearance in this matter shall be held on September 15, 2015 at 10:00 a.m.;
  2. Staff shall make disclosure, no later than five days before the date of the Second Appearance, of their witness list and summaries and indicate any intention to call an expert witness, in which event they shall provide the name of the expert and state the issue or issues on which the expert will be giving evidence; and
  3. Any requests by any of the Respondents for disclosure of additional documents shall be set out in a Notice of Motion which shall be filed no later than 10 days before the date of the Second Appearance.

 DATED at Toronto this 17th day of June, 2015

 



" Christopher Portner "
Christopher Portner