IN THE MATTER OF THE SECURITIES ACT, R.S.O. 1990, c. S.5, AS AMENDED AND IN THE MATTER OF INTERNATIONAL STRATEGIC INVESTMENTS, INTERNATIONAL STRATEGIC INVESTMENTS INC., SOMIN HOLDINGS INC., AND NAZIM GILLANI AND RYAN J. DRISCOLL
ORDER (Sections 127 & 127.1)
WHEREAS on March 6, 2012, 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"), in connection with a Statement of Allegations filed by Staff of the Commission ("Staff") on March 5, 2012, in respect of International Strategic Investments, International Strategic Investments Inc., (together "ISI"), Somin Holdings Inc. ("Somin") (collectively, the "Corporate Respondents"), Nazim Gillani ("Gillani") and Ryan J. Driscoll ("Driscoll") (collectively, the "Respondents");
AND WHEREAS on December 12, 2013, the Commission converted this matter to a hearing in writing;
AND WHEREAS the parties made themselves available for cross-examinations, which occurred over the course of three hearing days;
AND WHEREAS on March 6, 2015, the Commission issued its Reasons and Decision on the merits in this matter;
AND WHEREAS the Commission is of the opinion that it is in the public interest to make this order;
IT IS ORDERED THAT:
(a) Staff shall serve and file its written submissions on sanctions and costs by March 31, 2015;
(b) the Respondents shall serve and file their written submissions on sanctions and costs by April 24, 2015;
(c) Staff shall serve and file reply submissions on sanctions and costs, if any, by May 4, 2015;
(d) the hearing to determine sanctions and costs against the Respondents will be held at the offices of the Commission at 20 Queen Street West, Toronto, Ontario, on May 13, 2015, at 10:00 a.m. or such further or other dates as agreed by the parties and set by the Office of the Secretary; and
(e) upon the failure of any party to attend at the time and place aforesaid, the hearing may proceed in the absence of that party, and such party is not entitled to any further notice of the proceedings.
DATED at Toronto this 6th day of March, 2015.