Securities Law & Instruments

IN THE MATTER OF

CRYSTAL WEALTH MANAGEMENT SYSTEM LIMITED,

CLAYTON SMITH,

CLJ EVEREST LTD,

1150752 ONTARIO LIMITED,

CRYSTAL WEALTH MEDIA STRATEGY,

CRYSTAL WEALTH MORTGAGE STRATEGY,

CRYSTAL ENLIGHTENED RESOURCE & PRECIOUS METAL FUND,

CRYSTAL WEALTH MEDICAL STRATEGY,

CRYSTAL WEALTH ENLIGHTENED FACTORING STRATEGY,

ACM GROWTH FUND,

ACM INCOME FUND,

CRYSTAL WEALTH HIGH YIELD MORTGAGE STRATEGY,

CRYSTAL ENLIGHTENED BULLION FUND,

ABSOLUTE SUSTAINABLE DIVIDEND FUND,

ABSOLUTE SUSTAINABLE PROPERTY FUND,

CRYSTAL WEALTH ENLIGHTENED HEDGE FUND,

CRYSTAL WEALTH INFRASTRUCTURE STRATEGY,

CRYSTAL WEALTH CONSCIOUS CAPITAL STRATEGY and

CRYSTAL WEALTH RETIREMENT ONE FUND

 

Janet Leiper, Commissioner

 

October 2, 2017

 

ORDER

(Subsection 127(8) of the Securities Act, RSO 1990, c S.5)

 

                WHEREAS on October 2, 2017, the Ontario Securities Commission (the Commission) held a hearing at the offices of the Commission located at 20 Queen Street West, 17th Floor, Toronto, Ontario, with respect to an application by Staff of the Commission (Staff) to extend the temporary cease trade order initially issued on April 6, 2017, amended on April 7, 2017, and extended on April 13, 2017 and April 28, 2017 (the Temporary Order);

 

                ON READING the materials filed by Staff, the consent email dated September 21, 2017 from counsel for the Receiver, Grant Thornton Limited which was appointed by order of the Ontario Superior Court of Justice (Commercial List) pursuant to section 129 of the Securities Act, RSO 1990, c S.5 (the Act) on April 26, 2017 (the Receiver), and the email of Clayton Smith (Smith), dated September 23, 2017 stating that Smith does not consent to the extension of the Temporary Order, and on considering the oral submissions of Staff, appearing in person, and no one appearing for the Receiver and no one appearing for Smith although properly served;

 

                IT IS ORDERED that:

 

1.             pursuant to subsection 127(8) of the Act, the Temporary Order is extended until April 10, 2018, or until further order of the Commission, without prejudice to the right of any of the parties to seek to vary the Temporary Order on application to the Commission, with the following modifications:

 

a.             the portions of paragraphs 4 and 5 of the order dated April 7, 2017, referring to Smith in his capacity as advising representative are struck, given that Smith is no longer acting in the capacity of an advising representative at Crystal Wealth Management System Limited, as his registration was automatically suspended when he was terminated by the Receiver; and

 

2.             the hearing of this matter is adjourned until April 9, 2018 at 10:00 a.m. or such other date and time as provided by the Office of the Secretary and agreed to by the parties.

 

                DATED at Toronto, this 2nd October, 2017.

 

“Janet Leiper”