Policy Documents
Decisions & Orders
Document Sub-category:
Decisions
Document No.:
2010/06/16
Subject:
Orion Advisory Services, S.A., also known as Orion Advisory Services, and IntelliSource Markets B.V., also known as Intellisource Markets, IS Markets B.V. and IS Markets [Decision]
Amendments:
Published Date:
06/17/2010
Effective Date:
06/16/2010
______________________________
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2010 BCSECCOM 343
Orion Advisory Services, S.A., also known as Orion Advisory Services, and
IntelliSource Markets B.V., also known as Intellisource Markets,
IS Markets B.V. and IS Markets
Section 161 of the
Securities Act,
RSBC 1996, c. 418
Panel
Suzanne K. Wiltshire
Commissioner
Kenneth G. Hanna
Commissioner
Don Rowlatt
Commissioner
Date of hearing
June 14, 2010
Date of decision
June 16, 2010
Appearing
Bronwyn Turner
For the Executive Director
Decision
¶ 1 On May 6, 2010 the Executive Director issued a Temporary Order and Notice of Hearing, 2010 BCSECCOM 235.
¶ 2 These are our findings and decision after the hearing under section 161 of the
Securities Act
, RSBC 1996, c. 418.
¶ 3 At the conclusion of the hearing we extended the temporary order until we rendered this decision.
¶ 4 The respondent Orion Advisory Services, S.A., also known as Orion Advisory Services, did not appear.
¶ 5 The respondent IntelliSource Markets B.V., also known as Intellisource Markets, IS Markets B.V. and IS Markets, did not attend the hearing but did provide an email directed “To whom it may concern” setting out its position.
¶ 6 Based on the evidence provided by the Executive Director, we find:
1. Orion and IS Markets contravened section 34 of the Act in carrying out acts and solicitations in furtherance of trading in securities without being registered as alleged in the notice of hearing.
2. Orion and IS Markets contravened section 50(3)(d) of the Act by engaging in the unfair practice of putting unreasonable pressure on persons to purchase, hold or sell a security by making repeated calls to BC residents as alleged in the notice of hearing.
¶ 7 Therefore, considering it to be in the public interest, we order that until Orion and IS Markets become registered under section 34 of the Act:
1. under section 161(1)(b) of the Act, Orion and IS Markets cease trading securities and exchange contracts; and
2. under section 161(1)(d)(v) of the Act, Orion and IS Markets are prohibited from engaging in investor relations activities.
¶ 8 June 16, 2010
¶ 9
For the Commission
Suzanne K. Wiltshire
Commissioner
Kenneth G. Hanna
Commissioner
Don Rowlatt
Commissioner