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 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 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");
AND WHEREAS on January 14, 2015, Staff of the Commission ("Staff"), counsel for PFAM and McKinnon and counsel for Farrell attended before the Commission;
AND WHEREAS 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;
AND WHEREAS 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;
AND WHEREAS 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;
AND WHEREAS on February 25, 2015, a confidential pre-hearing conference was held immediately following the public hearing as requested by the parties;
AND WHEREAS 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;
AND WHEREAS the parties consent to the terms of this Order;
AND WHEREAS the Commission is of the opinion that it is in the public interest to make this Order;
IT IS HEREBY ORDERED that:
1. The confidential pre-hearing conference will continue on June 15, 2015 at 10:00 a.m.; and
2. Any motion(s) in respect of the matter, including a motion by McKinnon in respect of his registration, if applicable, will be heard on June 30, 2015 at 10:00 a.m. without limiting the rights of the parties to bring subsequent motions, as and when appropriate.
DATED at Toronto this 9th day of April, 2015.