2003 BCSECCOM 512

On January 18, 2002, the Executive Director issued a decision:

1. under section 36(1) of the Securities Act, RSBC 1996, c. 418, imposing a condition

(a) on the registration of CFC, prohibiting it from making loans to any person, and

(b) on the registration of Connor, prohibiting him from making loans, directly or indirectly, to clients of CFC; and

2. under section 17 of the Securities Rules, BC Reg. 194/97, varying the provisions respecting the registration of CFC by requiring CFC to comply with all requirements under section 70(3) of the Rules, including the requirement to exclude from current assets in the working capital calculation in BC form 33-905F any amounts owed from related parties that were not generated in the normal course of CFC’s business.

On February 15, 2002, Connor Financial Corporation and Joel Gerret Connor applied for a hearing and review of the decision.

A hearing to review the Executive Director’s decision will be held August 9 to 20, 2004, at 10 am at the British Columbia Securities Commission, 12th Floor, 701 West Georgia Street, Vancouver.

July 22, 2003





Elizabeth J. O’Hea
Commission Secretary