Order: Traders Global Group Inc. (Re)

Order
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IN THE MATTER OF
TRADERS GLOBAL GROUP INC. and MUHAMMAD MURTUZA KAZMI

File No. 2023-21

Adjudicator: Mary Condon

July 18, 2024

ORDER

(Subsections 127(1), (2) and (8) of the Securities Act, RSO 1990, c S.5)

WHEREAS the Capital Markets Tribunal held a hearing in writing to consider a motion by the Ontario Securities Commission to extend the temporary order issued by the Commission on August 29, 2023, and extended by the Tribunal on September 11, 2023, October 25, 2023 and January 25, 2024;

ON READING the materials filed by the Commission, and on being advised that the respondents, Traders Global Group Inc. (TGG) and Muhammad Murtuza Kazmi consent to this order, without prejudice to any position that they may take in this or any other proceeding before the Tribunal, and that the Commission’s investigation is ongoing, and on being advised that Grant Thornton Limited (the Receiver) in its capacity as receiver and manager, appointed pursuant to a decision of the Ontario Superior Court of Justice dated December 21, 2023, of all the assets, undertakings and property of the respondents, does not take a position in respect to the relief sought;

IT IS ORDERED that:

  1. pursuant to ss. 127(1)2, 127(1)3, 127(2) and 127(8) of the Securities Act, until the earlier of 1) 10 days after the issuance of a Statement of Allegations naming one or both of TGG and Kazmi as a respondent, or 2) 3 months after the issuance of this Order, and except as may be required for the Receiver, or any agent on its behalf, to carry out the Receiver’s mandate as set out in any order relating thereto that may be issued by the Ontario Superior Court of Justice:
    1. all trading in securities of TGG shall cease;
    2. trading in any securities by TGG and Kazmi, or by any person on their behalf, including but not limited to any act, advertisement, solicitation, conduct or negotiation, directly or indirectly in furtherance of a trade, shall cease; and
    3. any exemptions contained in Ontario securities law do not apply to TGG or Kazmi; and
  2. the previously scheduled hearing date of July 24, 2024 is vacated.

 

“Mary Condon”
Mary Condon