Order: In the Matter of Mek Global Limited and PhoenixFin Pte. Ltd.

Order
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IN THE MATTER OF
MEK GLOBAL LIMITED AND PHOENIXFIN PTE. LTD.

File No. 2021-18

Adjudicator: M. Cecilia Williams

June 21, 2022

ORDER

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

WHEREAS the Capital Markets Tribunal held a combined merits and sanctions and costs hearing in writing to consider whether to make findings against, and impose sanctions on, Mek Global Limited and PhoenixFin Pte. Ltd. (collectively, the Respondents) pursuant to subsection 127(1) and section 127.1 of the Securities Act, RSO 1990, c S.5 (the Act); 

AND WHEREAS the Tribunal made findings against the Respondents in its Reasons and Decision issued on June 21, 2022; 

ON READING the materials filed by Staff of the Ontario Securities Commission, no one appearing on behalf of the Respondents, although having been properly served;

IT IS ORDERED THAT:

  1. pursuant to paragraph 2 of subsection 127(1) of the Act, trading in any securities or derivatives by the Respondents shall cease permanently;
  2. pursuant to paragraph 2.1 of subsection 127(1) of the Act, the acquisition of any securities by the Respondents shall cease permanently;
  3. pursuant to paragraph 3 of subsection 127(1) of the Act, any exemptions contained in Ontario securities law do not apply to the Respondents permanently;
  4. pursuant to paragraph 8.5 of subsection 127(1) of the Act, the Respondents are prohibited permanently from becoming or acting as a registrant or as a promoter;
  5. pursuant to paragraph 9 of subsection 127(1) of the Act, the Respondents, on a joint and several basis, shall pay an administrative penalty in the amount of $2,000,000; and
  6. pursuant to section 127.1 of the Act, the Respondents, on a joint and several basis, shall pay $96,550.35 for the costs of the Commission’s investigation and hearing.

 

“M. Cecilia Williams”
M. Cecilia Williams