Order: In the Matter of M P Global Financial Ltd., and Joe Feng Deng

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 M P GLOBAL FINANCIAL LTD.,
AND JOE FENG DENG


ORDER



      WHEREAS on the 13th day of April, 2009, the Ontario Securities Commission (the “Commission”) made a temporary order (the “Temporary Order”) against M P Global Financial Ltd. (“MP Global”) and Joe Feng Deng also known as Feng Deng, Yue Wen Deng and Deng Yue Wen (“Deng”) (collectively the “Respondents”);

      AND WHEREAS on April 13, 2009, the Commission ordered pursuant to subsection 126(7) of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”) that the Temporary Order shall expire on the 15th day after its making unless extended by order of the Commission;

      AND WHEREAS the Temporary Order dated April 13, 2009 provided that:
  1. pursuant to clause 2 of subsection 127(1) of the Act, that all trading of securities of MP Global shall cease;
  2. pursuant to clause 2 of subsection 127(1) of the Act, that trading by Deng and MP Global shall cease; and
  3. pursuant to clause 3 of subsection 127(1) of the Act, that the exemptions contained in Ontario securities law do not apply to MP Global or Deng;
      AND WHEREAS on April 27, 2009, the Commission ordered that the Temporary Order be extended until May 26, 2009 and the hearing in this matter be adjourned to May 25, 2009 at 2:00 p.m.;

      AND WHEREAS on May 25, 2009, the Commission ordered that the Temporary Order be extended until the completion of the hearing on June 29, 2009 and the hearing in this matter be adjourned to June 29, 2009 at 11:00 a.m.;

      AND WHEREAS the Commission held a hearing on June 29, 2009;

      AND UPON reading the materials filed and hearing submissions from Staff of the Commission and counsel for the Respondents;

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

      IT IS ORDERED that the Temporary Order be extended to September 14, 2009 and the hearing in this matter be adjourned to September 11, 2009 at 10:00 a.m.;

      IT IS FURTHER ORDERED that the Respondents may file materials within two weeks respecting the issue of whether the Commission has jurisdiction in this matter on the basis that there was a security issued and that upon the filing of the materials by the Respondents, counsel for the parties shall agree on a date to argue the issue of the Commission’s jurisdiction.

DATED at Toronto this 29th day of June, 2009


 
 
“James E. A. Turner”
James E. A. Turner