Order: In the Matter of Jiubin Feng And CIM International Group Inc.

IN THE MATTER OF
JIUBIN FENG and CIM INTERNATIONAL GROUP INC.

File No. 2021-27

November 14, 2023

ORDER

(Subsection 127(1) and section 127.1 of the Securities Act, RSO 1990, c S.5)

WHEREAS on August 17, 2023, the Capital Markets Tribunal held a hearing by videoconference to consider the sanctions and costs that the Tribunal should impose on the respondents as a result of the findings in the Reasons and Decision on the merits, issued on March 15, 2023;

ON READING the materials filed by the parties, and on hearing the submissions of the representative for Staff of the Ontario Securities Commission and Jiubin Feng and CIM International Group Inc.;

IT IS ORDERED THAT:

1. with respect to Feng:
   1. pursuant to paragraphs 2 and 2.1 of s. 127(1) of the Act, Feng is permanently prohibited from trading in any securities or derivatives, or from acquiring any securities, except that after he has fully paid the amounts in subparagraphs 1(f), 1(g) and 1(h) below, he may trade securities or derivatives, and acquire securities in a Registered Retirement Savings Plan, Registered Retirement Income Fund, Registered Education Savings Plan, Registered Disability Savings Plan or Tax-Free Savings Account (as those terms are defined in the Income Tax Act of which only he is the sole legal and beneficial owner, through a registered dealer in Canada to whom he has given both a copy of this order and a certificate from the Commission confirming that he has paid the required amounts;
   2. pursuant to paragraph 3 of s. 127(1) of the Act, any exemptions contained in Ontario Securities law shall not apply to Feng permanently;
   3. pursuant to paragraphs 7 and 8.1 of s. 127(1) of the Act, Feng shall resign any positions that he holds as a director or officer of an issuer or registrant;
   4. pursuant to paragraphs 8 and 8.2 of s. 127(1) of the Act, Feng is permanently prohibited from acting as a director or officer of an issuer or registrant;
   5. pursuant to paragraph 8.5 of s. 127(1) of the Act, Feng is permanently prohibited from becoming or acting as a registrant or promoter;
   6. pursuant to paragraph 9 of s. 127(1) of the Act, Feng shall pay an administrative penalty of $500,000;
   7. pursuant to paragraph 10 of s. 127(1) of the Act, Feng shall, jointly and severally with CIM, disgorge to the Commission the amount of $7,630,000; and
   8. pursuant to s. 127.1 of the Act, Feng shall, jointly and severally with CIM, pay to the Commission $206,769.34 for the costs of the investigation and proceeding; and
       
2. with respect to CIM International Group Inc.:
   1. pursuant to paragraphs 2 and 2.1 of s. 127(1) of the Act, CIM International Group Inc. is permanently prohibited from trading in any securities or derivatives, or from acquiring any securities;
   2. pursuant to paragraph 3 of s. 127(1) of the Act, any exemptions contained in Ontario Securities law shall not apply to CIM International Group Inc. permanently;
   3. pursuant to paragraph 8.5 of s. 127(1) of the Act, CIM International Group Inc. is permanently prohibited from becoming or acting as a registrant or promoter;
   4. pursuant to paragraph 9 of s. 127(1) of the Act, CIM International Group Inc. shall pay an administrative penalty of $500,000;
   5. pursuant to paragraph 10 of s. 127(1) of the Act, CIM International Group Inc. shall, jointly and severally with Feng, disgorge to the Commission the amount of $7,630,000; and
   6. pursuant to s. 127.1 of the Act, CIM International Group Inc. shall, jointly and severally with Feng, pay to the Commission $206,769.34 for the costs of the investigation and proceeding.