Temporary Order: In the Matter of Wilton J. Neale et al.

Order
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IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5 as amended

AND

IN THE MATTER OF
WILTON J. NEALE, MULTIPLE STREAMS OF INCOME (MSI) INC.
and 360 DEGREE FINANCIAL SERVICES INC.

TEMPORARY ORDER
(Sections 127(1) and (8))

 

 

 

 

 

    WHEREAS on March 11, 2009 the Ontario Securities Commission (the “Commission”) made a Temporary Order pursuant to subsections 127(1) and (5) of the Securities Act R.S.O. 1990 c. S.5, as amended (the “Act”) that (a) pursuant to clause 2 of subsection 127(1) of the Act all trading in securities of MSI Canada Inc., Prosporex Investment Club Inc. and Dominion Investments Club Inc. shall cease; (b) pursuant to clause 2 of the subsection 127(1) of the Act trading in any securities by all of the respondents shall cease; and (c) pursuant to clause 3 of subsection 127(1) of the Act, any exemptions contained in Ontario securities law do not apply to the respondents (the “Temporary Order”);

 

 

    AND WHEREAS on March 24, 2009, the Commission ordered that the Temporary Order be extended to July 24, 2009, subject to an exception concerning the respondent Sedwick Hill;

    AND WHEREAS on July 23, 2009, the Commission extended the Temporary Order to November 25, 2009 and adjourned the hearing to November 24, 2009 at 2:30 p.m.;

    AND WHEREAS on August 25, 2009, the Commission varied the Temporary Order to remove the exception that had applied to the respondent Sedwick Hill and extended the Temporary Order, as varied, to November 24, 2009;

    AND WHEREAS on November 24, 2009, the Commission added Prosporex Forex SPV Trust as a respondent, extended the Temporary Order, as varied, to January 18, 2010 and adjourned the hearing to January 15, 2010 at 10:00 a.m.;

    AND WHEREAS on January 15, 2010, the Commission extended the Temporary Order, as varied, to March 26, 2010 and adjourned the hearing to March 25, 2010 at 10:00 a.m.;

    AND WHEREAS on March 12, 2010, Staff issued Statements of Allegations and Notices of Hearing in the following matters:

  1. with respect to Albert Leslie James (formerly identified as Albert James in the Temporary Order), Ezra Douse and Dominion Investments Club Inc.;
  2. with respect to Wilton J. Neale (formerly identified as Wilton John Neale in the Temporary Order), Multiple Streams of Income (MSI) Inc. (formerly identified as MSI Canada Inc. in the Temporary Order) and 360 Degree Financial Services Inc.; and
  3. with respect to Carlton Ivanhoe Lewis, Mark Anthony Scott, Sedwick Hill, Leverage Pro Inc. (formerly identified as LeveragePro Inc. in the Temporary Order), Prosporex Investment Club Inc., Prosporex Investments Inc., Prosporex Ltd., Prosporex Inc., Prosporex Forex SPV Trust, Networth Financial Group Inc., and Networth Marketing Solutions;

    AND WHEREAS the Commission held a hearing in this matter on March 25, 2010 and issued an Order dated March 26, 2010 governing disclosure and extending the Temporary Order, as varied, to May 14, 2010;

    AND WHEREAS on May 13, 2010, the Commission held a hearing in this matter as well as an in camera pre-hearing conference and extended the Temporary Order, as varied, to June 17, 2010;

    AND WHEREAS on June 16, 2010, the Commission held a hearing in this matter, Staff requested an extension of the Temporary Order, as varied, and a date for the hearing of the matter, and the respondents did not appear but gave their consent to the order requested by Staff or did not object to it;

    AND WHEREAS on July 13, 2010, the Commission held a hearing in this matter, and Staff requested a date for the hearing on the merits and an extension of the Temporary Order, as varied, until the completion of the hearing on the merits and release of the decision on the merits;

    AND WHEREAS on July 13, 2010, the respondents did not appear at the hearing, and Staff advised that Wilton J. Neale has not responded to communications from Staff in relation to the matter;

    AND WHEREAS the Commission is of the opinion that it is in the public interest to make this order;

    AND WHEREAS by Commission order made August 31, 2009, pursuant to subsection 3.5(3) of the Act, each of W. David Wilson, James E. A. Turner, David L. Knight, Carol S. Perry, Patrick LeSage, James D. Carnwath and Mary Condon, acting alone, is authorized to make orders under subsection 127(8) of the Act;

    IT IS ORDERED THAT:

  1. the Temporary Order, as varied, is extended until the completion of the hearing on the merits and release of the decision on the merits, on the same terms as the Order dated March 26, 2010; and
  2. the hearing on the merits in this matter shall commence on September 29, 2010 at 10:00 a.m., and continue to and including October 1, 2010, or such further or other dates as agreed to by the parties and fixed by the Office of the Secretary of the Commission.

    DATED at Toronto this 13th day of July, 2010.

 

 

" James E. A. Turner"
James E. A. Turner