Order: In the Matter of Sunwide Financial Inc. et al.
IN THE MATTER OF THE SECURITIES ACT
R.S.O. 1990, c. S.5, AS AMENDED
- AND -
IN THE MATTER OF
SUNWIDE FINANCE INC., SUN WIDE GROUP,
SUN WIDE GROUP FINANCIAL INSURERS & UNDERWRITERS,
WI-FI FRAMEWORK CORPORATION., BRYAN BOWLES,
STEVEN JOHNSON, FRANK R. KAPLAN, and GEORGE SUTTON
ORDER
(Sections 127(1) & 127(8) of the Securities Act)
R.S.O. 1990, c. S.5, AS AMENDED
- AND -
IN THE MATTER OF
SUNWIDE FINANCE INC., SUN WIDE GROUP,
SUN WIDE GROUP FINANCIAL INSURERS & UNDERWRITERS,
WI-FI FRAMEWORK CORPORATION., BRYAN BOWLES,
STEVEN JOHNSON, FRANK R. KAPLAN, and GEORGE SUTTON
ORDER
(Sections 127(1) & 127(8) of the Securities Act)
WHEREAS on November 19, 2007, the Ontario Securities Commission (the "Commission") issued a temporary cease trade 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 that Sunwide Finance Inc., Sun Wide Group, Sun Wide Group Financial Insurers & Underwriters, Wi-Fi Framework Corporation, and their officers, directors, employees and/or agents cease trading in all securities immediately, including the securities of Wi-Fi Framework Corporation;
AND WHEREAS on November 19, 2007, the Commission ordered that the Temporary Order shall expire on the 15th day after its making unless extended by order of the Commission;
AND WHEREAS on November 21, 2007 the Commission issued a Notice of Hearing to consider, among other things, the extension of the Temporary Order, to be held on December 3, 2007 at 2:00 p.m;
AND WHEREAS Staff served Sunwide Finance Inc., Sun Wide Group, Sun Wide Group Financial Insurers & Underwriters, Bryan Bowles, Steven Johnson, Frank R. Kaplan, and George Sutton by fax and email, while attempted service on Wi-Fi Framework Corporation was unsuccessful;
AND WHEREAS the Commission held a Hearing on December 3, 2007 and none of the respondents attended before the Commission on that date;
AND WHEREAS the Commission ordered that the Temporary Order be extended to March 4, 2008 and that the hearing be adjourned to that date;
AND WHEREAS the Commission held a Hearing on March 4, 2008, none of the respondents attended before the Commission, and the Commission ordered that the Temporary Order be extended to July 22, 2008 and that the hearing be adjourned to that date;
AND WHEREAS the Commission held a Hearing on July 22, 2008, none of the respondents attended before the Commission, and the Commission ordered that the Temporary Order be extended to September 4, 2008 and that the hearing be adjourned to September 3, 2008;
AND WHEREAS the Commission issued a Notice of Hearing and Statement of Allegations on August 21, 2008;
AND WHEREAS the Statement of Allegations named three respondents not previously named on the Temporary Order, being Robert Drury, Lorenzo Marcos D. Romero, and Rafael Pangilinan, and removed Wi-Fi Framework Corporation as a respondent;
AND WHEREAS the Commission held a Hearing on September 3, 2008 and none of the respondents attended before the Commission;
AND WHEREAS on September 3, 2008 Staff filed with the Commission the affidavit of service of Louisa Tong sworn on September 3, 2008, which deposed that Staff had made its best efforts to provide notice of the Statement of Allegations and Notice of Hearing to the respondents;
AND WHEREAS Staff requested that a hearing on the merits be set down for the first available hearing date;
AND WHEREAS the Commission is of the opinion that this matter should be set down for a hearing on the merits on November 19, 2008, commencing at 10:00 a.m., with that date to be communicated to the respondents by Staff in the same manner in which service has been previously attempted;
AND WHEREAS the Commission is of the opinion that the time required to conclude a hearing could be prejudicial to the public interest as set out in section 127(5) of the Act;
AND WHEREAS pursuant to section 127(8) of the Act satisfactory information has not been provided to the Commission by any of the respondents;
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 section 127(8) of the Act that the Temporary Order, as amended to reflect the addition of Robert Drury, Lorenzo Marcos D. Romero and Rafael Pangilinan, as respondents, and the removal of Wi-Fi Framework Corporation as a respondent, is extended until the completion of the hearing on the merits.
IT IS FURTHER ORDERED that the Hearing is adjourned to November 19, 2008 at 10:00 a.m., whereupon the hearing on the merits will begin.
DATED at Toronto this 4th day of September 2008.
“ James E. A. Turner ” James E. A. Turner |
“ Carol S. Perry ” Carol S. Perry |