Order: In the Matter of Rezwealth Financial Services Inc. 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 REZWEALTH FINANCIAL SERVICES INC.,
PAMELA RAMOUTAR, JUSTIN RAMOUTAR,
TIFFIN FINANCIAL CORPORATION, DANIEL TIFFIN,
2150129 ONTARIO INC., SYLVAN BLACKETT,
1778445 ONTARIO INC., and WILLOUGHBY SMITH

ORDER
(Subsections 127(1), 127(7) and 127(8))

WHEREAS on December 22, 2009, the Ontario Securities Commission (the “Commission”) issued a temporary cease trade order (the “Temporary Order”) pursuant to subsections 127(1) and 127(5) of the Securities Act, R.S.O. 1990 c. S.5, as amended (the “Act”) ordering the following:

 

 

  1. that all trading in any securities by Rezwealth Financial Services Inc. (“Rezwealth”), Tiffin Financial Corporation (“Tiffin Financial”), 2150129 Ontario Inc. (“215 Inc.”) or their agents or employees shall cease;
  2. that all trading in any securities by Pamela Ramoutar (“Pamela”), Chris Ramoutar (“Chris”), Justin Ramoutar (“Justin”), Daniel Tiffin (“Tiffin”) and Sylvan Blackett (“Blackett”) shall cease;
  3. that the exemptions contained in Ontario securities law do not apply to Rezwealth, Tiffin Financial, and 215 Inc. or their agents or employees; and
  4. that the exemptions contained in Ontario securities law do not apply to Pamela, Chris, Justin, Tiffin and Blackett;

AND WHEREAS on December 22, 2009, the Commission ordered that the Temporary Order shall expire on the 15th day after its making unless extended by the Commission;

AND WHEREAS on December 22, 2009, the Commission issued a Notice of Hearing to consider, among other things, the extension of the Temporary Order, to be held on January 6, 2010;

AND WHEREAS on January 6, 2010, the Commission ordered that the Temporary Order was extended until June 22, 2010 and that the hearing was adjourned to June 21, 2010;

AND WHEREAS on June 21, 2010, the Commission ordered that the Temporary Order was extended until September 23, 2010 and that the hearing was adjourned to September 22, 2010;

AND WHEREAS on September 22, 2010, the Commission ordered that the Temporary Order was extended until January 27, 2011 and that the hearing was adjourned to January 26, 2011;

AND WHEREAS on January 24, 2011, the Commission issued a Notice of Hearing pursuant to sections 127 and 127.1 of the Act accompanied by a Statement of Allegations dated January 24, 2011, issued by Staff of the Commission (“Staff”) with respect to Rezwealth, Pamela, Justin, Tiffin Financial, Tiffin, 215 Inc., Blackett, 1778445 Ontario Inc. and Willoughby Smith;

AND WHEREAS on January 26, 2011, Staff was not requesting to extend the Temporary Order against Chris;

AND WHEREAS on January 26, 2011, the Commission ordered that the Temporary Order was extended with respect to Rezwealth, Pamela, Justin, Tiffin Financial, Tiffin, 215 Inc. and Blackett until March 17, 2011 (the “Amended Temporary Order”), and specifically:

  1. that all trading in any securities by Rezwealth, Tiffin Financial and 215 Inc. shall cease;
  2. that all trading in any securities by Pamela, Justin, Tiffin and Blackett shall cease;
  3. that the exemptions contained in Ontario securities law do not apply to Rezwealth, Tiffin Financial, 215 Inc. or their agents or employees;
  4. that the exemptions contained in Ontario securities law do not apply to Pamela, Justin, Tiffin and Blackett; and
  5. that this Order shall not affect the right of any respondent to apply to the Commission to clarify, amend, or revoke this Order upon five days written notice to Staff.

AND WHEREAS on January 26, 2011, the Commission further ordered that the hearing was adjourned to March 16, 2011 at 10:00 a.m.;

AND WHEREAS on March 16, 2011, the Commission held a hearing to consider an extension of the Amended Temporary Order and other preliminary matters;

AND WHEREAS Staff requested a further order continuing the Amended Temporary Order against Rezwealth, Pamela, Justin, Tiffin Financial, Tiffin, 215 Inc. and Blackett;

AND WHEREAS the Commission heard submissions from counsel for Staff, counsel for Rezwealth, Pamela and Justin and counsel for Tiffin and Tiffin Financial;

AND WHEREAS no one appeared at the hearing on behalf of 215 Inc. or Blackett, although properly served;

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

IT IS HEREBY ORDERED pursuant to subsections 127(7) and 127(8) of the Act that the Amended Temporary Order is extended to the conclusion of the hearing on the merits; and

IT IS FURTHER ORDERED that the hearing of this matter is adjourned to Thursday, June 16, 2011 at 10:00 a.m. for a pre-hearing conference.

 

DATED at Toronto this 16th day of March, 2011.

 

" Christopher Portner "
Christopher Portner