Exemption Orders (Discretionary)
STRAND SECURITIES CORPORATION
2001 BCSECCOM 525
IN THE MATTER OF THE SECURITIES ACT
R.S.B.C. 1996, c. 418
AND
IN THE MATTER OF STRAND SECURITIES CORPORATION
Exemption Order Under Section 48
[para 1]
WHEREAS Strand Securities Corporation (“Strand”) has applied to the Executive Director for an exemption from the requirement in section 6(3) of the Securities Rules, B.C. Reg. 195/97 that securities dealers apply for membership with the Mutual Fund Dealers Association of Canada or the Investment Dealers Association of Canada by May 23, 2001 (the “Membership Requirement”);
[para 2]
AND WHEREAS Strand has represented to the Executive Director that:
1. Strand is a corporation incorporated under the laws of British Columbia and is registered as a securities dealer under the Act;
2. Strand’s business consists principally of selling exempt distributions of securities of issuers that are affiliates of Strand;
3. Strand’s business is sufficiently specialized such that it is applying to the Executive Director to be registered as a special limited dealer under the Act (a “Special Limited Dealer”);
4. the Membership Requirement does not apply to a Special Limited Dealer;
[para 3]
AND WHEREAS the Executive Director considers that it would not be prejudicial to the public interest to do so;
[para 4]
IT IS ORDERED effective May 23, 2001, under section 48 of the Act that the Membership Requirement shall not apply to Strand provided that by September 28, 2001:
1. Strand is registered as a Special Limited Dealer and is not registered under the Act as a securities dealer or a mutual fund dealer; or
2. Strand has applied to the Mutual Fund Dealers Association of Canada or the Investment Dealers Association of Canada for membership.
[para 5]
DATED May 24, 2001.
Gerry Halischuk
Director
Capital Markets Regulation