James D. Carnwath

Metallic Ventures Gold Inc. applied for an order under the Securities Act that it is no longer a reporting issuer in the applicable jurisdictions.

The Filer was acquired by International Minerals Corporation through a statutory plan of arrangement, resulting in its outstanding securities being beneficially owned by fewer than 15 security holders in each Canadian jurisdiction.

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

The Filer, NEXX Systems, Inc., applied for exemptive relief from the prospectus and registration requirements under the Securities Act to permit the posting of electronic roadshow materials on commercial websites during the waiting period of a cross-border initial public offering.

Compliance with U.S. SEC rules required unrestricted access to these materials, which conflicted with Canadian requirements for password protection.

The Ontario Securities Commission granted the relief, subject to conditions including the provision of a contractual right of action for misrepresentation to Canadian purchasers.

The applicant, BlackRock Asset Management Canada Limited, applied for exemptive relief from the mutual fund conflict of interest investment restrictions in the Securities Act.

The relief was sought to allow pooled funds to invest in underlying pooled funds and public mutual funds under common management.

The Ontario Securities Commission granted the requested relief, subject to certain conditions, including that securities of the top funds are distributed solely pursuant to prospectus exemptions and that no duplicative fees are charged.

The Filer, a French issuer, applied for exemptive relief from the prospectus and dealer registration requirements of the Securities Act in connection with a global employee share offering.

The offering involved the use of collective employee shareholding vehicles (FCPEs) under French law.

The Ontario Securities Commission granted the requested relief, subject to conditions including resale restrictions and the provision of disclosure documents to Canadian participants.

The Filer, Compagnie de Saint-Gobain, applied to the Ontario Securities Commission for exemptive relief from the prospectus and dealer registration requirements in connection with a global employee share offering.

The offering involves the use of collective employee shareholding vehicles (FCPEs) under French law.

The Filer could not rely on the standard employee prospectus and registration exemptions because the shares were offered through the FCPEs rather than directly to the employees.

The Commission granted the requested relief, subject to conditions regarding the first trade of the securities.

Hillsborough Resources Limited applied for a decision that it is no longer a reporting issuer.

Following a plan of arrangement, all of its common shares and debentures were acquired or cancelled, and its shares were delisted from the TSX.

The Filer was in default of audit committee requirements under NI 52-110 because its new board members did not comply.

The Ontario Securities Commission granted the exemptive relief sought, declaring the Filer is not a reporting issuer.

The applicants applied for exemptive relief from the insider reporting requirements under section 107(2) of the Securities Act.

The relief was sought in respect of the exercise of options and the disposition of shares pursuant to automatic securities disposition plans.

The Ontario Securities Commission granted the exemption, provided that the insider files an annual report disclosing the transactions on a transaction-by-transaction basis or in an acceptable summary form within 90 days of the end of the calendar year.

The Filer, Canadian Capital Auto Receivables Asset Trust, applied for a decision that it is no longer a reporting issuer.

The Filer had no outstanding securities and no public holders of its securities.

The Filer was in default of certain continuous disclosure obligations regarding its Management Discussion and Analysis.

The Ontario Securities Commission granted the exemptive relief sought, ordering that the Filer is not a reporting issuer.

The applicant, Genuity Fund Management Inc., applied for exemptive relief on behalf of itself and certain top and underlying funds to permit a fund-on-fund structure.

The proposed structure involves top funds, which are classes of a mutual fund corporation, investing all of their assets in separate underlying limited partnerships managed by the same manager.

The Ontario Securities Commission granted the requested relief from the related issuer and related party investment restrictions under the Securities Act, subject to standard conditions including that no duplicative management or incentive fees are payable.

The applicants sought to file a Notice of Hearing under s. 127 of the Securities Act to reprimand Commission Staff and rectify alleged past non-compliance related to the delayed issuance of a prospectus receipt.

The Secretary returned the draft notice, stating only Staff could bring a s. 127 hearing.

The applicants moved for directions.

The Commission declined to decide whether a third party could ever seek a s. 127 hearing, finding that even if they could, the relief sought here was punitive and retrospective.

Relying on the Supreme Court's decision in Asbestos, the Commission held that s. 127 is a regulatory provision intended to be preventive and prospective, not to remedy alleged past misconduct or harm to private parties.

Several unrepresented respondents in an Ontario Securities Commission proceeding brought motions on the eve of the hearing on the merits.

One respondent sought an adjournment to assist with bankruptcy proceedings in Nevada, which was denied as scandalous given the imminent hearing date and the history of delays.

Other respondents sought a stay of proceedings based on allegations of Staff's failure to maintain confidentiality and provide disclosure, as well as a motion for further particulars.

These motions were denied without prejudice to the respondents' right to renew them at the hearing on the merits, as the allegations could only be resolved in a full hearing.