Christopher Portner

The Filer, Eloqua, Inc., applied for a decision to be deemed to cease to be a reporting issuer in the Jurisdictions following a merger with an indirect wholly owned subsidiary of Oracle Corporation.

As a result of the merger, all securities of the Filer are beneficially owned by fewer than 15 securityholders in each Canadian jurisdiction.

The Ontario Securities Commission, acting as principal regulator, granted the requested exemptive relief.

Following an agreed statement of facts admitting to unregistered trading and illegal distribution of securities, the Ontario Securities Commission held a sanctions and costs hearing.

The respondents raised approximately $1.5 million from investors who suffered a complete loss.

The Commission ordered 10-year market bans, permanent director and officer bans, a $100,000 administrative penalty, disgorgement of $1.1 million, and $10,000 in costs.

Following a merits hearing where the respondents were found to have engaged in unregistered trading, illegal distribution, and fraud in connection with the 'Axcess Investments' scheme, the Ontario Securities Commission held a sanctions and costs hearing.

The Commission ordered permanent trading and market prohibitions against Driver, Taylor, and their respective companies, along with significant administrative penalties and disgorgement orders.

Reynold and his company, who were not found to have acted fraudulently but engaged in unregistered trading and illegal distribution, were subject to 15-year market prohibitions, an administrative penalty, and disgorgement.

The respondents were also ordered to pay the costs of the investigation and hearing.

Following a finding that the respondent engaged in conduct contrary to the public interest by purchasing shares while in possession of undisclosed material facts, the Ontario Securities Commission held a sanctions and costs hearing.

The Commission declined to impose the 10-year trading bans sought by Staff, finding them excessive given that no technical breach of the Securities Act occurred.

Instead, the Commission ordered a five-year prohibition on the respondent acting as a director or officer of a reporting issuer, issued a reprimand, and ordered the respondent to pay $150,000 in costs.

The applicants sought exemptive relief from the mutual fund conflict of interest investment restrictions in ss. 111(2)(b) and 111(3) of the Securities Act (Ontario).

The relief was requested to allow a pooled fund that is a 'mutual fund in Ontario' and future related pooled funds to invest 100% of their assets in an underlying offshore master fund.

The Ontario Securities Commission granted the requested relief, subject to conditions analogous to fund-of-fund structures, including that no management or incentive fees are duplicated and that the Canadian funds will not vote the securities of the master fund without instructions from beneficial owners.

The applicant, a U.S. public company, applied for exemptive relief from the prospectus and dealer registration requirements of the Securities Act in connection with a spin-off transaction.

The transaction involved the distribution of shares, options, and restricted stock units of its subsidiary to Canadian shareholders and employees.

The Ontario Securities Commission granted the requested relief, noting that the applicant has a de minimis presence in Canada and the distributions required no investment decision from Canadian shareholders.

The Filer, on behalf of a newly formed real estate investment trust and a corporation, applied for exemptive relief from various continuous disclosure, corporate governance, certification, and prospectus requirements under Ontario securities legislation.

The relief was sought in connection with a proposed reorganization into a 'stapled unit' structure, where units of the trust and the corporation would trade together.

The Ontario Securities Commission granted the requested exemptions, subject to several conditions, including that the entities file combined financial statements and that the units remain stapled.

The applicant, a limited partnership providing services to a law firm, applied for exemptive relief from the registration and prospectus requirements under the Securities Act.

The relief was sought in connection with the issuance of limited partnership units to family trusts established for the benefit of the law firm's partners and their eligible family members.

The Ontario Securities Commission granted the requested relief, subject to conditions including restrictions on the transferability of the units and requirements to provide financial statements and obtain written acknowledgements from the trustees.

The Filer applied on behalf of itself and two newly formed limited partnerships for exemptive relief from continuous disclosure, certification, audit committee, corporate governance, and insider reporting requirements under various National Instruments.

The application was made in connection with a conversion transaction to a stapled unit real estate investment trust structure.

The Ontario Securities Commission granted the requested exemptions, subject to conditions including that the stapled structure remains in place and the entities comply with modified credit support issuer conditions.

The Commission also granted an order designating the two limited partnerships as reporting issuers in Ontario.

The applicants brought motions to quash summonses issued by Staff of the Ontario Securities Commission to two lawyers, compelling them to attend examinations.

Staff argued the summonses were part of an ongoing investigation into insider tipping and trading.

The applicants argued the summonses were an improper attempt to conduct pre-hearing discovery of witnesses who would testify at the upcoming merits hearing.

The Commission found that the real purpose of the summonses was to prepare for the merits hearing, which is an inappropriate use of Staff's investigative powers.

The motions were granted and the summonses were quashed.

The Filer applied for exemptive relief from the mutual fund self-dealing restrictions in the Securities Act (Ontario) and the conflicts of interest provisions in National Instrument 31-103.

The relief was sought to allow pooled funds managed by the Filer to invest in securities of underlying funds under common management.

The Ontario Securities Commission granted the requested relief, subject to certain conditions including disclosure requirements and prohibitions on duplicative fees.

Avion Gold Corporation, a wholly-owned subsidiary of Endeavour Mining Corporation, applied for exemptive relief from continuous disclosure, certification, and insider reporting requirements.

The Ontario Securities Commission granted the requested exemptions, subject to conditions substantially similar to those in section 13.3 of National Instrument 51-102, as the Filer's outstanding options did not qualify as designated exchangeable securities.

During a merits hearing, Staff of the Ontario Securities Commission and the respondent presented an Agreed Statement of Facts in which the respondent admitted to unregistered trading and illegal distribution in contravention of the Securities Act.

The Commission ordered that all prior evidence be withdrawn and replaced with the Agreed Statement of Facts, declared the merits hearing concluded, and scheduled a sanctions hearing.

The Filer, PetroMagdalena Energy Corp., applied for a decision that it is no longer a reporting issuer in the applicable jurisdictions.

Following a court-approved plan of arrangement, all of the Filer's common shares were acquired by a purchaser, and its options and warrants were cancelled.

The Filer's securities were delisted from the TSX Venture Exchange, and its outstanding notes were redeemed.

As the Filer's securities are beneficially owned by fewer than 15 security holders in each jurisdiction and fewer than 51 worldwide, the Ontario Securities Commission granted the requested exemptive relief.

Following a merits hearing where the respondents were found to have breached Ontario securities law by failing to maintain an audit committee, failing to file audited financial statements, and obstructing an investigation, the Commission held a sanctions and costs hearing.

The respondents did not appear.

The Commission ordered permanent cease trade orders against the corporate and individual respondents, permanent director and officer bans against the individual respondents, and ordered the individual respondents to pay $63,667.50 in costs on a joint and several basis.

CI Investments Inc. applied for exemptive relief on behalf of existing and future mutual funds and pooled funds it manages.

The relief sought to permit the funds to purchase and hold non-exchange traded debt securities of related parties issued pursuant to a primary offering.

The Ontario Securities Commission granted the relief, subject to several conditions including independent review committee approval, pricing requirements, and limits on the amount of the primary offering the funds can purchase.

The applicants, a TSX-listed issuer and a foreign resident purchaser and manager, applied to the Ontario Securities Commission for exemptive relief from certain prospectus disclosure, dealer registration, and prospectus delivery requirements.

The relief was sought in connection with an 'equity line of credit' facility, under which the purchaser would buy newly issued securities of the issuer at a discount and resell them in the secondary market.

The Commission granted the requested exemptions, subject to conditions including a 9.9% cap on the number of shares distributed under the facility in any 12-month period, restrictions on the purchaser's activities, and timely disclosure of each drawdown.

The Filer, a mutual fund manager, applied for exemptive relief from subsection 5.1(a) of National Instrument 81-105 to permit it to pay participating dealers direct costs for cooperative marketing initiatives whose primary purpose is providing educational information concerning tax or estate planning matters.

The Ontario Securities Commission granted the relief, subject to conditions ensuring the information is general, educational, and not tied to sales incentives.

The applicant, Integra Capital Limited, applied to the Ontario Securities Commission on behalf of several funds for relief from the mutual fund conflict of interest investment restrictions under paragraphs 111(2)(b) and 111(3) of the Securities Act.

The applicant sought to permit the funds to employ a fund-on-fund structure and invest in underlying funds under common management.

The Commission granted the requested relief, subject to conditions including that the funds are distributed solely pursuant to prospectus exemptions and that no duplicative management or sales fees are payable.

The Filer applied for exemptive relief from various continuous disclosure, certification, insider reporting, audit committee, corporate governance, and short form prospectus requirements to accommodate the issuance of debt securities and preferred shares by its indirect subsidiaries.

The Filer could not rely on the existing exemption for credit support issuers because it only owned 71% of an intermediate holding entity.

The Ontario Securities Commission granted the requested relief, subject to conditions including that the Filer's parent maintains control and direction of the holding limited partnership and that the Filer consolidates the relevant entities in its financial statements.